Brief review of hotel real estate market in Krasnodar

Transcription

1 Краткий обзор рынка гостиничной недвижимости Краснодара за 1 кв г. Brief review of hotel real estate market in Krasnodar 2012 Подготовлено GVA Sawyer

2 Hotel real estate market At the end of 2012 Krasnodar hotel real estate market had 17 new hotels commissioned of which 10 units referred to quality hotels with total room supply amounting to 322. Construction of some major facilities is still under way in Krasnodar (for example, Hilton Garden Inn Krasnodar, Marriott and etc.). It was also announced about construction of new hotel facilities one of them is a hotel complex 5* providing 198 rooms in MFC in 40 let Pobedi street. ZAO Lafer-Yug also announced its intention to implement the project of a storey hotel and business complex within a framework of reconstruction of the city s center. Table 1. Main indicators of hotel real estate market in Krasnodar according to the results of Main indicators Five-star hotel (5*) Four-star hotel (4*) Three-star hotel (3*) Number of rooms as of end of Number of rooms commissioned in Number of certified 1 hotels by the end of Average occupancy rate in 2012, % 57% 56% 55% Average selling price for a room in 2012 (ADR*), rub./day Classification of hotels an expert opinion on hotels and accommodation appropriateness which allows to assign a category to hotels on the basis of the requirements specified in the classification system (The order of the Ministry of Sport, Tourism and Youth policy of the Russian Federation dated 25 January 2011 N 35). Prepared by GVA Sawyer

3 Supply According to the results of 2012 total supply of quality hotel real estate in Krasnodar (certified and non-certified hotels 3-5*) amounted to 41 hotel units with rooms 2. Taking into consideration poor hotel supply, total room capacity in Krasnodar hotels amounted to rooms (106 hotels). At the end of 2012 Krasnodar had 17 hotels opened, of which 10 could be referred to quality supply. Total number of rooms amounted to 322 (see Table 2). Table 2. Quality hotels opened in Name Hotel room capacity Resident 65 4* Palermo (certified) 48 3* Aerohotel Undersun City 56 3* Atlas (certified) 31 3* Merotell 16 3* Alliance 20 3* Via Sacra 28 3* El Greko 17 3* Crystal 17 3* Oasis 24 3* Category In Q was opened the first in the south Undersun City (aerohotel 3*). The hotel having 56 rooms is intended for air travelers, crew members and business tourists for which flexible tariffs have been obtained. As of today Krasnodar has 28 certified hotels of which there are 3 hotels 5*, 9 hotels 4*, 7 hotels 3*, 6 hotels 2* and 3 mini-hotels 3. According to the results of the year the structure of hotel room supply looks the following way (see Chart 1): quality hotel units 2 At the end of year total hotel room supply of the city was recalculated due to reclassification of the existing hotel units and change in room supply in some hotels. 3 The category mini-hotel according to its description does not refer to quality supply (as consultants report). (3-5*) have 57% of room supply (1 974 rooms) and poor hotels have 43% of room supply (2* and below, rooms). Chart 1. Change in the structure of hotel room supply during It should be noted that in 2012 the structure of hotel room supply was changed and it was due to commissioning of new hotel units and reclassification of those already existing as well. However at the end of year the share of quality supply remained practically unchanged as in the beginning of According to GVA Sawyer the market structure will constantly change due to introduction of compulsory classification of hotel units on the territory of Krasnodar region. After the announced hotel projects ( Hilton, Garden Inn Krasnodar, Pangra, Marriott ) are commissioned, the number of quality hotel supply will increase in a considerable way. Among the main tendencies in 2012, it is possible to single out: Increase in the number of certified hotels; Competitive expansion among small 2-3* hotels and mini-hotels due to commissioning of new hotels on the market; Postponing the delivery of large hotels; Prepared by GVA Sawyer

4 Growth in developers` activity. According to data in Krasnodar 10 hotels were at different stages of construction and project development at the end of However, implementation terms of many facilities were not determined yet, or they were postponed (for example, Hilton Garden Inn Krasnodar, Marriott). One of the hotels a hotel located on Pushkina Street was redesigned into a high class apartment block (Developer Platan-S). Among important events of 2012 experts single out developers plans to build new hotel units in Krasnodar: MFC (in 40 let Pobedi street and Moskovskaya street) which includes a hotel 5* having 198 rooms. The developer is OOO Svet zvezd ; A hotel and business complex within a framework of reconstruction of the city s center (project characteristics are not available). The developer is ZAO Lafer- Yug. The company announced the construction of this facility in 2010 but terms of project realization were postponed. According to the estimations of GVA Sawyer, in Krasnodar two hotels - 4* hotel Hilton Garden Demand Following the results of 2012 average occupancy rate amounted to 56% in Krasnodar. In Q occupancy rate increased slightly due to the growth of business activity and New Year`s holidays. International agro industrial exhibition YugAGRO, architectural and construction forum YugBuild, hospitality industry exhibition Profitable hospitality, BEAUTY SHOW Krasnodar, Wedding salon, MOBI, and others are considered to be the most significant events held during the last year. Inn Krasnodar and 3* hotel Pangra - have the biggest chances to be commissioned in Q It is necessary to note that the commissioning of these facilities was postponed several times. Taking into account the implementation of announced projects, a total room stock may amount to rooms in Q1 2013, rooms of which will relate to quality supply. Chart 2. Changes in dynamics of quality room stock in Occupancy rates of 4-5* hotels are at the level of 56-57%, and 2-3* hotels are at the level of 55% (Table 1). According to the estimations of GVA Sawyer, in Q the occupancy rate will decrease slightly as compared to Q Prepared by GVA Sawyer

5 Chart 3. Structure of a tourist flow in Krasnodar. Department of health resorts and tourism development in Krasnodar Region The current volume of supply meets almost entirely demand for quality accommodations in Krasnodar. Forecasting dynamics of a new In Krasnodar the structure of tourist flow has not changed and at present it is as follows: business tourism 91%; passing-through tourism 3%; intensive tourism 2%; sports tourism (competitions) 3%, educational tourism 1%. According to official data about 1 million people visit Krasnodar annually. More over, a number of tourists continues to increase. So, Krasnodar hotel real estate is basically aimed at the business sphere. Therefore, quality facilities are much more popular than low quality ones, that is especially obvious in the period of higher business activity (spring, autumn). supply will be enough to satisfy the demand in the case of minimal growth in a tourist flow. Financial terms Following the results of 2012, on Krasnodar hotel real estate market the accommodation cost increased by up to 6% in 5* hotels, remained at the last year end level in 4* hotels, and it increased by 7% at average in the city in 3* hotels. In Q many hotels offered pre-holiday and holiday 5-35% discounts to their customers. The most part of these discount offers were for 3* hotel rooms. The accommodation cost increased by up to 6% in 5* hotels. During exhibition time the accommodation price for 5* rooms was raised by 10% at average. Following the results of the year, the accommodation price for 4* hotel room remained the same as in the end of Only some 4* hotels raised accommodation price for a standard room by about 4-6%. According to the results of the year, the accommodation price for a standard double room increased by about 7% at average in 3* hotels. In Q business activity was growing in the city, especially during exhibition time (the most significant exhibition was YugAGRO ) and holidays periods. According to the results of 2012, the accommodation price for a standard room (two place accommodation) amounted to rub./day (including VAT, breakfast) in 3* hotels; rub./day in 4* hotels; rub./day in 5* hotels. It is necessary to note that a competition is growing in the segment of 3* hotels and minihotels, because of commissioning of new hotels on the market. Prepared by GVA Sawyer

6 Chart 4. Average daily rate for 3-5* hotel rooms in Krasnodar, rub./day competition will strengthen after the commissioning of quality hotels (Hilton, Pangra) that may spur owners into more flexible price policy during the periods of decreased business activity in the city. According to the estimations of GVA Sawyer, winter prices, established in Q4 2012, will remain in many hotels of the city in Q As a result, significant change in prices is not expected, except for exhibition periods. Market Prepared by GVA Sawyer

7 Аналитический документ по исследованию рынка недвижимости по исследованию рынка недвижимости Аналитический 56 сентября 2012 GVA Worldwide Contacts Australia Austria China Cyprus Denmark Estonia Finland Germany Great Britain Greece Hong Kong (PRC) Hungary Ireland Italy Lithuania Netherlands New Zealand Poland Russia Sweden Switzerland Head office (Moscow) Bernikovskaya Embankment House , Russia, Moscow Nikoloyamskaya Ul., 13, str.17 Тel: +7 (495) Fax: +7 (495) Office in St. Petersburg BC Mir, Efimova Ul., 4a, office St. Petersburg, Russia Тel: +7 (812) Office in Krasnoyarsk Diktatura Proletariata Ul., 32 office Krasnoyarsk, Russia Тel: + 7 (391) info@gvasawyer.com Office in Krasnodar Krasnodar, Russia Zipovskaya 5, building 6, office 209 Тel: +7 (495) info@gvasawyer.com Подготовлено GVA Sawyer