In the shorter term, CBRE expects a 2% RevPAR growth in 2024, driven by international tourism and limited supply, despite a weaker first quarter and a reduced forecast from 3%.
Raffles Moscow - Moscow, Russia
Raffles will open a new hotel right next to the Kremlin in the heart of Moscow. It will provide an urban oasis at the point that Zaryadye Park meets historic Varvarka Street and Slavyanskaya Square providing fantastic views across Red Square and the Kremlin ensemble, including the Cathedral of Vasily the Blessed. Combining elements like innovative cuisine, art, and culture, the local and legendary service Raffles is known for is expected to make it one of the most exciting openings of 2022 for Accor. Spread over nine floors it will host two-bedroom suites, junior suites, and presidential suites, all of which will boast spectacular views over the city. Four will provide exclusive access to the hotel’s green outdoor terrace in the courtyard too. A spa with thermal zones, a Russian bath, a fitness center, a 25-meter pool, salon services, and even a shopping gallery will be included as well.