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St. Petersburg hotel room rates seen skyrocketing five-fold during SPIEF — expert

The industry expert recommends that tourists steer clear of St. Petersburg while the Forum is in session given the expected price surge and high occupancy rate of accommodations

MOSCOW, May 23. /TASS/. Prices for accommodations at St. Petersburg hotels are expected to soar by as much as five times during the annual St. Petersburg International Economic Forum (SPIEF) versus the pre-event period, Aleksey Volkov, president of the National Union of the Hospitality Industry, told TASS.

"The difference is from three to five times outside of the SPIEF dates and during [the Forum] dates. Moreover, at the same time the hotel occupancy rate will reach nearly 95%," Volkov said.

The industry expert recommends that tourists steer clear of St. Petersburg while the Forum is in session given the expected price surge and high occupancy rate of accommodations.

"[Tourists should] definitely not [come] during the SPIEF period. Even apartments and guest houses will be occupied," he noted. "We spoke many times with colleagues about this. I believe the situation will have to be regulated over time, because prices are already becoming exorbitant," Volkov said.

SPIEF is Russia’s largest, showcase annual international business and economic gathering; it will be held on June 14-17 this year.