Russia: Food Service - Hotel Restaurant Institutional
With the slowing economy and weak ruble, the Russian food service sector has made some shifts of customers from expensive restaurant formats to casual places, from casual dining to fast casual format, and from quick service restaurants to retail ready food with affordable prices. The devaluation of the ruble in 2015 has had a relatively positive impact on hotels in Russia. Foreign visitors have benefited from the ruble depreciation and domestic travel has served as a main driver of growth in the industry In the first three quarters of 2015, Russia experienced double-digit growth in hotel occupancy. This provides ample opportunities for U.S. exporters of food and agricultural products.
