Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,307.20 -80.41 -0.52%
S&P 500 1,655.35 -13.81 -0.83%
Nasdaq 3,463.30 -38.82 -1.11%
Ticker Volume Price Price Delta
STOXX 50 2,835.01 +13.36 0.47%
FTSE 100 6,840.27 +36.40 0.53%
DAX 8,530.89 +58.69 0.69%
Ticker Volume Price Price Delta
Nikkei 15,663.00 +35.69 0.23%
Hang Seng 22,867.90 -393.13 -1.69%
S&P/ASX 200 5,073.50 -91.87 -1.78%

Capsule Hotel Means Revolution in Costly Moscow

By Henry Meyer & Stepan Kravchenko - 2013-02-13T10:13:26Z

Photograph by Petr Markin/Fomru via Bloomberg

Company Symbol % Change
3 of 12

Budget Accommodation

"This business scheme without any doubt will be a success," Chernikov says as he waits on customers at the hotel reception. "In Moscow there is a major problem with a lack of budget accommodation."

Last year, French midscale hotel chain Mercure opened a 109-room hotel in Moscow near the Foreign Ministry and historic Old Arbat street, marking its first expansion into Russia. A standard room was only available for 290 euros a night at short notice, more than twice the 135-euro price in Mercure's branch in the center of Paris, near the Bastille.

Advertisement