Rise of the big spenders: Are Russians the world's best hotel guests?

Russian travelers are increasingly booking trips abroad, and hotels and touring companies are working overtime to win their patronage. In 2012, Russian tourists spent $43 billion abroad -- making them the fifth highest-spending segment of the travel industry. Last year, nearly 40 million Russians traveled overseas (only 8 million journeyed in 2006). That number is likely to expand, and quickly; Russians are theworld's second-fastest growing group of tourists. The supercharged growth can be attributed to a steadily growing middle class (projected to rise 16% between now and 2020), and the fact that access to the world beyond the former Soviet borders is still fairly novel. "The Russian visitor explosion has been so fast that perhaps some hoteliers still haven't quite picked up on it," says Matt Walls, vice president of Hotels.com -- a booking site that recently released a global survey on Russian tourists. "Now is the time (for them to do so), because unless you can cater to the needs of Russian customers, they'll go and stay somewhere else," he adds. The InterContinental Hotel Group is one company that invested early and heavily in their Russian guests, introducing Russian-language websites, call centers and mobile apps. "Russia is one of the largest outbound markets in the world -- equivalent to a country like France, but growing almost as fast as China," says Matt Luscombe, the InterContinental's senior vice president of sales and marketing. Read more