Oleksiy Yevchenko, managing partner of ArtBuild Hotel Group, took part in the 2nd Annual Russia Hotel Expansion Summit. The event was held in Moscow on April 10-11 at the Holiday Inn hotel. The summit was organized by the Noppen company.
Within 2 days of the event the most urgent and pressing questions of the hotel industry in Russia and CIS were discussed, in particular the state of the market, investment attractiveness, the experience of local and international brands, the development of new hotel formats, architectural and design trends, innovative approaches to the implementation of projects and others.
Oleksiy Yevchenko spoke on "Extended Stay Hotel: a new format for the hotel market in Russia and CIS countries." During his speech, Oleksiy commented on availability and development of Extended Stay hotels in the world, Russia and CIS countries; pointed main advantages and disadvantages of this format comparatively to classical hotels and private apartments; drew attention to the format of Extended Stay affects the profitability of a hotel.
According to Olexiy, "despite the fact that the implementation of the Extended Stay project requires more investment in the number of rooms, the amount of costs in infrastructure facility is reduced, also the hotel staff is reduced by 20-30% and, respectively, operating expenses, as the result RevPAR (Revenue Per Available Room, revenue based on 1 available room) is 3-5% higher. However, on the territory of Russia and CIS countries there’re only 3 working Extended Stay hotels under international brands: Staybridge Suites, Mamaison and Adagio (the last one – Accor hotel group)».
In general, the summit was attended by over 200 experts, officials, representatives of investment and consulting companies, hotel operators and developers from all around the world.
