By the end of 2016, the average occupancy rate for Moscow hotels had risen to 70%, according to Interfax, who quoted a Cushman & Wakefield analytical report.
This is the highest figure since 2006 when occupancy was 72%. According to experts, an increase in high-quality service was one of the main reasons for the uptick.
For many Moscow hotels, last year was the first time since 2013 that the annual target was exceeded.
The average room price reached 6,400 roubles ($107.16), an increase of 6.5% from the previous year.
The most popular hotels in Moscow were mid-priced ones, which had a 78% occupancy rate.
"In 2017, the growth in accommodation prices will continue and will probably exceed the predicted annual inflation rate,” said Marina Usenko, a partner in Cushman & Wakefield’s Hospitality and Tourism Department. “The main aim of hoteliers will be to make profit.”