Hotel Rates in Russia Drop by 5%

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Average hotel rates in Russia dropped by 5% year-on-year to 10,000 rubles ($133) per night during the summer season, according to data from the Russian Tourism Industry Union (RTIU), as reported by Interfax.

Four- and five-star hotels saw the most significant price decrease, falling by 2.55% to 12,900 rubles ($172) per night. The drop in prices is attributed to a decline in demand. In Moscow, accommodation rates fell by 7.5%, in Kaliningrad by 7%, and in St. Pyotrsburg by 3.2%.

The average cost of a room in a three-star hotel decreased by 0.23% to 7,760 rubles ($103) per night.

However, prices for accommodation in hotels rated two stars or lower increased by 3.34% to 7,150 rubles ($95) per night.