The Russian hospitality industry experienced an exceptional rebound in 2021, but rising geopolitical risks make an anticipated return of foreign tourists questionable and prospects for 2022 very vague.
Hoteliers in Moscow and St. Petersburg, Russia’s two largest cities, said they were more than satisfied with 2021 operational performance. Mounting geopolitical tensions between Russia and Ukraine and the West’s responding sanctions on Russia could undermine the further growth in the Russian hospitality industry.
