Home / Travel news / In Moscow there will be less cheap hotels

While hotel 2* transferred to the housing market captures Airbnb

VTB group sells 11 hotels in Moscow, RBC reports. It’s part of non-core assets VTB included in the portfolio of JSC “Hotel company”. A number of hotels, most likely, will go to housing, as well as at the apartment buildings. That is the Foundation of the placement of the capital may be reduced at least several hundred rooms. This will play into the hands of online services of booking of apartments.

В Москве будет меньше недорогих отелей


These hotel “Orekhovo”, “Kuzminki”, “Sayany”, “Sunrise”, “Tsaritsyno”, “Vladykino”, “Altay”, “Ostankino”, “Zolotoy Kolos”, “Tourist” and “Business-tourist”. Their total area of about 209 sq m, and the number of rooms is more than 4 thousand rooms. Its hotel portfolio structure VTB is estimated at 14 billion rubles. the object-Level 2-3 stars.

At the end of October the structure of the group VTB has already managed to implement the first hotel assets that have fallen from the Bank of Moscow in 2011. According to RBC, the owner of the hotel “Orekhovo” and “tsarina” was the IR “Platform”, founded by the owner of “Morton” Sergey Gordeyev. Earlier IR “Platform” has not been in the hotel business, specializing in commercial real estate.

The hotel “Orekhovo” is a two panel 17-storey building 1989 and 1990 building with a total area of 19 thousand square meters to 405 rooms. In 2007 they were renovated. The hotel “Tsaritsino” has an area of 14.3 thousand square meters, with 143 rooms. All three buildings are located at shipilovskiy proezd – on the southern outskirts of Moscow.

One of the buildings “nut” who worked in the format of apart-hotel and has the layout of the apartment buildings has already been sold off as apartments, told RBC Boris Golubev, managing Director of the “Platform”. The sale price of apartments by about 20% below the average level of prices in the secondary market apartments in the area.

License plate Fund not sorry

Observers told HotLine.travel that best-selling hotels have their own clientele from the Soviet era. Some good location, so from the point of view of sales, they liquid.

On the other hand, the Bank is difficult to manage the hotels is non – core asset, observers say. There is a problem of obsolescence. They were built back in the 80s, and the global reconstruction of the now will cost dearly.

“Originally these buildings were designed for the Olympics-80, but as a house. However, from the very beginning was completely used as a hotel,” said HotLine.travel Vadim Prasov, Vice-President of the Federation of restaurateurs and hoteliers of Russia.

That is why the legacy of the hotel easier to sell than to invest in upgrades.

Translating them into housing is unlikely to have implications for the market. According Prasowa, over the last three years was not the date when the city was impossible to find a free room.

“The market 2-3 stars in the highly competitive Moscow – more than 300 objects, so care of these objects, in my opinion, will not have a significant impact on capacity. In any case, the market will adjust prices,” agrees Andrew michalec, the co-founder of Russian Hotels Talks, Executive Director of the Independent hotel Alliance.

Apartment win

You really miss Moscow is a modern 2* hotels that can offer a decent level of comfort and a good location for reasonable money. “But in new York it is hard to find. Investors are much more profitable to invest a little more money and get “four”. Therefore, the new 2* hotels in the capital are almost there. Three stars appear. So they built, the investor would be motivated to invest in them: the tax benefits from the government of Moscow some preferences. But the government benefits almost nobody gives, it is considered that in Moscow, and so all profitable to build,” said Vadim Prasov.

Until such a policy in respect of the hotel business from regulators is preserved in Moscow and other large Russian cities will thrive penumbral the apartment market. Their owners often offer the location, comfort, and sometimes individual hotel services at a very attractive price.

The West has realized that the city this development is disadvantageous because the Treasury loses the taxes. For example, in new York trying to regulate this process, banning services like Airbnb to advertise short-term rental housing.