Within ten months, five hotels with 954 rooms were opened in Sochi, which is 45% more than a year earlier, Vadomosti writes. Against the backdrop of increased supply in the summer, the occupancy of hotels on the beach decreased by 11 percentage points, to 60.8%. The average rate decreased by 16% to 13.3 thousand rubles, and the income per room decreased by 29% to 8.1 thousand rubles. Experts warn against the risk of an oversupply of large similar facilities and serviced apartments, which in the face of growing competition threatens the profitability of the projects.

Within ten months, five hotels with 954 rooms were opened in Sochi, which is 45% more than a year earlier, Vadomosti writes. Against the backdrop of increased supply in the summer, the occupancy of hotels on the beach decreased by 11 percentage points, to 60.8%. The average rate decreased by 16% to 13.3 thousand rubles, and the income per room decreased by 29% to 8.1 thousand rubles. Experts warn against the risk of an oversupply of large similar facilities and serviced apartments, which in the face of growing competition threatens the profitability of the projects.