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How can events increase hotel occupancy rate?

A way to build up an international tourism destination is through special events. Events and conferences are a huge part of the hospitality industry and are continuing to grow. Whether it be focused on music, sport or a luxury brand, events around the world are generating billions of revenue and changing the way businesses, hospitality organizations and resorts operate. 

Meetings, conferences, events and exhibitions are a key driver of tourism destinations across the globe. As a result, tourist destinations around the world are realizing that events are a vital component in attracting holidaymakers. Without them, they are at risk of losing out.  

Events are the starting points for the development of long-term tourism programs. Mostly every city has several existing events and festivals that can be used as a base to attract visitors. An approach that has a possibility of establishing a long term tourism development ought to focus on the uniqueness of special events representing unique environments and localities. The current festivals may be points of departure for the beginning of event development. Small and large events can be developed to start the tourism process. 

Moscow rated the best city for business and event tourism. Rated the world’s most rapidly developing metropolitan city by PWC, Moscow can receive visitors any time of the year. This multi-ethnic and multi-denominational city where people speak any language never sleeps. 

The most significant effect for Moscow and St. Petersburg was the World Cup 2018; 19 of 64 matches were played in these cities. 

The World Cup in 2018, on average, provided occupancy and additional income in half times more than on ordinary days due to too high price. But there were legislative restrictions – the authorities still determined maximum prices depending on the category of hotels. In large cities, where championship matches were held (Ekaterinburg, Nizhniy Novgorod), income per room in June - early July in many hotels exceeded last year’s figure by 40-80%. 

After the Winter Olympics in Sochi in 2014, tourists visit the city not only in the summer holidays. The flow of tourists to Sochi is increasing from year to year due to the holding of event activities. For example, the occupancy in the region of Krasnaya Polyana is about 80% during the period of the events, and this figure is growing. 

Tourists’ hotel event experience is very popular for further business development. Additional international business can be brought through niche event planning. For example, Russian tourists annually love to attend cultural events in Italy, and moreover combine leisure and experience from events. 

The consistent program appeals to individuals who are seeking a destination with a particular theme to have comprehensive experience in one location. It is the depth of this experience that will produce greater satisfaction. This requires a unique program and location of the hotel.  

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