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Ekaterinburg Hotel Market Update - November 2014

Ekaterinburg is the 4th largest city in Russia with a population of approximately 1.4 million. It was a ‘closed city’ until 1991 but has become a key scientific, industrial and technical centre. It is one of the main hub cities in Russia in the heart of the Urals and will be a host city for the FIFA World Cup in 2018. Ekaterinburg was one of the first regional cities to develop a branded hotel market and is now host to 6 branded hotels (Hyatt Regency, Park Inn, Novotel, Ramada, and 2 from Vienna International at the airport). There has been some saturation within the hotel market with the Hyatt, Park Inn, Ramada and Novotel all opening within a few years of one another. We do though see long term opportunities here as long as World Cup fever does not drive unreasonable new supply.

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