Over the past few years the price of hotels and restaurants in Russia soared.  As the price of oil soared, Russians became richer and consumer spending reached dizzying heights.  This was particularly noticeable in Moscow and St. Petersburg.  Moscow became one of the World’s most expensive cities.  Four star hotels could charge over €300 per night and travelling during the peak season of May - June was even more expensive.Â
With the price of oil slumping and their economy shrinking, the Russian’s have devalued the rouble by over 33% since the summer.  We are finally beginning to see the cheaper rouble reflected in hotel and restaurant prices.Â
While the British pound has lost significant value against the Euro and US Dollar, it has retained its strength against the rouble.  Holidays to Russia offer a good value for money relative to Euro and US Dollar based countries.  Hotel prices may still seem quite high, but once you are there, you’ll find your pound will go further than in Western Europe.