baltic states and belarus real estate market review - Colliers

More documents

Recommendations

Info

Real Estate Market Review 2011 | Belarus Hotel Market Tourist activity by countries Source: National Statistics Committee of the Republic of Belarus 1% 2% 2% 5% 3% 4% 2% 4% 10% Russia Other Countries Turkey Germany Poland 67% Italy Latvia Lithuania Ukraine United Kingdom Dynamics of the average occupancy rate in Belarus and Minsk Source: National Statistics Committee of the Republic of Belarus, Colliers International 60% shown readiness to participate in the development of 3 - 5-star hotels in Belarus. Interest in the operators market has been shown by such international chains as Vienna International, Accor Group, Amara Hotels, Buddha-Bar Hotels as well as many local and Russian operators are interested in hotels in regional centres of Belarus. In 2010 several deals were made with small regional hotels. DEMAND AND rates In 2010 there was a significant increase in the number of tourists that visited the Republic of Belarus. The increase of tourists in 2009 compared with 2008 was just 2.5 per cent, but 2010 saw surging growth on 2009 reaching 26 per cent. The greatest role was played tourists from Russia, with numbers increasing by 43 per cent on the number in 2009. Tourists from Russia mainly came to visit health resorts. The increase in tourists from countries outside the CIS was a modest 3 per cent. The increase in tourists numbers was caused not only by recovery of economies in neighbouring countries, but also by due to major international sport and cultural events, such as the Junior Eurovision Song Contest was held in Minsk in 2010. Public authorities are actively working to improve the image of the country. In November, 2010 the Belarusian Tourist Information Centre was opened in Warsaw. Another initiative of tourism development is the ceasing of licensing for tourist services since 2011. The majority of tourists visiting Minsk come from neighbouring countries. Tourists from Poland and the Baltic countries are mostly interested in educational tourism (tourism focused on education, such as visits to museums and historical sites). Tourists from Russia commonly enjoy the services of Belarusian health resorts. With the commencement of new flight routes, the number of tourists arriving from the Middle East region increased. Rates for hotel accommodation services remained at approximately the same level relative to 2009. This is due to both the weak competition in the market and to fluctuations of the EUR relative to the Belarusian currency (The Belarusian Rouble). OCCUPANCY In 2010 the increase of hotel guests in Belarus was 10.5 per cent. This figure is less than might be expected considering the significant increase in tourist flow. This is due in part to a considerable change guest structure. Currently foreign guests account for 61 per cent of the total number of guests. The number of local Belarusian guests decreased in 2010 due to the expanding market of short-term rental of flats and inflexible pricing policies of most hotels in Minsk. The average occupancy rate for hotels in Belarus, according to Colliers International data, is about 45 per cent. The hotel occupancy rate in Minsk is about 52 per cent, exceeding occupancy in other regions by 5 - 7 per cent. During large-scale sporting, cultural and business events Minsk hotels suffer a chronic supply shortage being almost completely occupied. In these times this demand is satisfied by hotels in suburbs and flats offered for short-term rent. The average hotel stay duration in 2010 was 2.6 days decreasing from 2009 figures by 7 per cent. The total revenue of Minsk hotels from accommodation services increased by 26.7 per cent year on year, amounting to 41.3 million EUR. 55% 50% 45% 40% 2005 2006 2007 2008 2009 2010 Minsk Belarus Average rates per day in Minsk hotels *EUR per night VAT incl. Source: Colliers International Stars Standard Room Double Standard Deluxe Apartment 5-star 205 - 265 205 - 310 273 - 365 1,073 - 1,150 4-star 132 - 136 151 - 177 217 - 227 579 - 581 3-star 47 - 55 63 - 77 121 - 141 156 - 453 CONTACTS: ANDREY PAVLYSHKO - a.pavlyshko@colliers.by l ANDREY ALESHKIN - a.aleshkin@colliers.by Colliers International | p. 94
Real Estate Market Review 2011 | Belarus Hotel Market TENDENCIES AND FORECASTS ◊ A favourable climate for hotel development is forming supported by the decision to hold Ice Hockey World Championship in 2014 in Belarus. ◊ ◊ ◊ Implementation of the state Program of Tourism Development. Enhancement of international operators’ activity and the commencement of hotel complex construction. Renovation and certification of existing hotels. ◊ ◊ ◊ ◊ Integration into International and online booking systems. Increase in the number of foreign organized tourists. Major cultural, sporting and business events in Minsk will increase demand for hotels in the future. The probability of entering the market in the medium term, a lot of hi-class hotel projects, and small amount of the most popular segments of the hotels (2 - 3-star). Risk of increasing vacancies for hi-class hotels. CONTACTS: ANDREY PAVLYSHKO - a.pavlyshko@colliers.by l ANDREY ALESHKIN - a.aleshkin@colliers.by Colliers International | p. 95
Page 1 and 2:
BALTIC STATES AND BELARUS REAL ESTA
Page 3 and 4:
latvia REAL ESTATE market REVIEW 20
Page 5 and 6:
Real Estate Market Review 2011 | La
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Commercial real estate market shows
Page 31 and 32:
Real Estate Market Review 2011 | Li
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44: Real Estate Market Review 2011 | Li
Page 51 and 52: Stability, optimism and The Euro Af
Page 53 and 54: Real Estate Market Review 2011 | Es
Page 77 and 78: GOOD SIGNS FOR THE REAL ESTATE MARK
Page 79 and 80: Real Estate Market Review 2011 | Be
Page 93: Real Estate Market Review 2011 | Be
Page 103: Colliers International Baltic State
show all

baltic states and belarus real estate market review - Colliers

Create successful ePaper yourself

Delete template?

Save as template?