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News Release

​St. Petersburg

SPIEF – the impact of moving an event on St. Petersburg hotel market results

​St. Petersburg, 23 June, 2015 David Jenkins, Head of JLL Hotels & Hospitality Group, comments on the impact of moving St. Petersburg International Economic Forum (SPIEF) to June on local hotel market:

“In 2014 the SPIEF was held in May – rather than the usual, and more traditional, June. This had the positive impact of spreading the peak business out over two months rather than one.

Usually June is anyway the busiest tourism month for the city so the Forum is competing in a packed month. Moving it to May gave the city a boost for a week in a quieter month. The city therefore posted a 45% RevPAR increase* in May 2014 over May 2013.

The decision to move the forum back to June has now thrown the hotel results for this year into doubt, with May results for the city down 30% from May last year to RUB 2,030.

This has moved the city year to date numbers to 5% down on RevPAR for the year, when by the end of April the city was up by 10%. We can only hope that the city has an incredible June.”

* Based on STR Global reporting

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.

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