Today in some Russian cities the segment of “apartments for rent” is close to take 50% share of the market of hotel services. Due to the fact that now the activities of private renting are not regulated at the state level, owners of the apartments can extract huge profits, often evading taxes.
Recently we wrote about the fact that new international hotel chain comes to Russia with a budget select-service proposal. Is it a single case or a trend? The cultural and political magazine “E-Vesti” addressed this issue to Armin Eberhard, the head of Renaissance Moscow Monarch Centre and the Chairman of the Committee of Hotel & Tourism of the Association of European Business (AEB).