Bench Events and Questex Media Group today announced that the ninth annual Russia & CIS Hotel Investment Conference will take place October 21st-23rd 2013 at the Radisson Blu Resort & Congress Hotel in Sochi, Russia, site of the 2014 Olympic Winter Games.
Sochi is undergoing a major transformation from a regional tourist hub into a global tourism destination as it gears up to host the Winter Olympic Games early next year and a number of soccer matches when the FIFA World Cup Finals come to Russia in 2018.
In preparation for these mega-events, Sochi and the local region are creating new attractions and investing in infrastructure.
“With the 2014 Winter Olympic Games fast approaching, the world’s eyes are on Sochi,” said Jonathan Worsley, Bench Events chairman.
“We are delighted that the city will host RHIC this year.
“There is an incredible buzz and excitement about Sochi. Colleagues in the travel and tourism industry are looking forward to seeing the Olympic Park and the region’s new hotels in person with Sochi’s preparations for the Winter Olympic Games in full swing.”
Total investment in the region is expected to exceed $50 billion. Morgan Stanley has reported that infrastructure spending is expected to account for seven per cent of Russia’s rising GDP at least until 2018 as Moscow and regional governments improve facilities for the FIFA World Cup Finals.
“Beyond the Olympics, the next five years will see the sector drawing in new investment and development opportunities,” said Kerry Gumas, Questex president.
The number of international brand hotels in Russia is expected to increase from 87 to 220 by 2018, and the total number of international brand hotel rooms will more than double from 21,885 to 47,5341.
The Carlson Rezidor Hotel Group, Host Sponsor of RHIC, is one of the fastest-growing hotel companies worldwide as well as being a leading international hotel operator in Russia/CIS.
The doors to the Radisson Blu Resort & Congress Hotel in Sochi opened in January this year.
“We are excited to be hosting this year’s RHIC and bringing the region’s most prestigious hotel investment conference to Sochi at such an important time,” said Wolfgang Neumann, Rezidor Hotel Group president.
RHIC is the industry’s premier event in Russia, bringing together the region’s largest gathering of hotel investors, developers, brands, operators, financiers, advisors and government officials under one roof.
Attendees will gain insights from Russian and global leaders as to where the real opportunities lie in the region, discover successful strategies from those already operating in the market and hear from government officials and top economists on the latest forecasts and trends.