Still no 5-star hotels in Nizhny Novgorod, Rostov-on-Don and Volgograd, cities to host the 2018 FIFA World Cup

Russia remains one of the most promising markets for hotel operators in Europe, mainly because of the economic growth potential, relatively unsaturated regional markets and major sporting events to be held in the country in the coming years, with the 2018 FIFA World Cup leading the field. However, due to the sharply deteriorating economic growth forecasts for the near future and political tensions with developed countries, hotel construction activity is set to ease substantially in 2015.

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