Thursday, 2 October 2014

Russian hotel prices plunge

The Ukraine crisis has hit Russia’s tourism industry hard, new figures show. Hotels there operated 15% emptier on average in August than in the same month last summer, according to research company STR Global. That’s already having an impact on room prices. Those in Moscow were down by 18.2% on average compared with August 2013 when calculated in euros. And even when currency fluctuations were taken out of the arithmetic, prices in roubles fell by an average of 9% for the country as a whole.








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