“Tourism.RF” is negotiating with investors on the construction of a hotel complex in the Saratov region
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Expecting to attract investors to the hotel infrastructure, the Tourism.RF corporation is introducing new projects to the market. By the end of 2026, it expects to complete the construction of a hotel complex in the Engels district of the Saratov region, which will require an investment of almost 2 billion rubles. Analysts call such a project controversial, warning of a long payback period of 20 years. The main flow of guests will probably be formed by the region’s residents themselves.
The state corporation “Tourism.RF” at the beginning of December 2023 established Gagarin’s Constellation LLC in Engels, Saratov region, it follows from Kartoteka.ru. The Ministry of Investment Policy of the region explained to Kommersant that a tourism project is planned to be implemented in this place, and additional work is now underway with interested parties. Turizm.RF added that we are talking about creating a complex for family recreation, focused on scientific, educational and sports tourism. Its commissioning is planned for the end of 2026, and the volume of expected investments is estimated at 1.99 billion rubles.
Turizm.RF notes that the facility will be located off the banks of the Volga, between the villages of Uzmorye and Smelovka in the Engels region, next to the landing site of cosmonaut Yuri Gagarin and the Space Conquerors Park. The main hotel building will have 80 rooms, and 40 guest houses are also planned. The corporation is currently negotiating with potential investors, they clarified.
The founder of Ivashkevich Hospitality, Stanislav Ivashkevich, calls the economics of the project in the current parameters controversial, pointing out that with a similar amount of investment, its payback will be 15–20 years. If we are talking about investing 1.2–1.3 billion rubles, then renting out houses for an average of 10 thousand rubles. per day, and rooms cost 8–9 thousand rubles, then this period could be reduced to ten years, he suggests.
Tourism expert Alexey Kozhevnikov believes that investors’ interest in participating in this project directly depends on the funds that will be invested in the development of related infrastructure. The project will be successful if it manages to achieve an average annual load of around 70%, with the national average being about 40%, the expert notes. Overall, he said, business continues to be cautious about participating in new projects. Mr. Ivashkevich does not rule out that a hotel project in the Engels region may be of interest to entrepreneurs from the Saratov region, whose source of capital is another business.
According to Rosstat, in the Saratov region at the end of last year there were 26.2 thousand places in collective accommodation facilities; the figure has remained stable over the past few years. The average profitability per room in the region for the first nine months of the year, minus accumulated inflation, increased by 8% compared to the pre-crisis 2019, calculated Roman Yeremyan, deputy chairman of the Union of Tourism and Hospitality. The national value showed a decrease of 10%. In total, 587.2 thousand people stayed in collective accommodation facilities in the Saratov region in January-October 2023, a year-on-year increase of 25.8%. At the same time, the turnover of the facilities increased by 7.9%, to 3.7 billion rubles. For comparison: these figures for Russia increased by 19% (to 66.3 million) and 10.1% (to 710 billion rubles).
Nevertheless, the vice-president of the Association of Tour Operators of Russia, Sergei Romashkin, doubts that the Saratov region can be called a center of tourist attraction: there are not many travelers planning to go there specifically. The new facility, he said, can count on good local demand. “Residents of the region itself and neighboring areas usually provide up to 90% of the guests in such projects,” he explains. But, according to Mr. Romashkin, we are talking mainly about tourists focused on passive recreation on the hotel premises; they rarely go on excursion programs, and the proximity of memorable places in this case is not so significant.
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