Hotel Market Review of Ukraine 2024
Mykola Siutkin
You do business, we mitigate risks | Business Investment Risk Advisor | Co-founder of S&P Agency | Attorney | Co-publisher LDaily | Ironman
In an ongoing effort to dissect and understand the changes and dynamics within the hotel market of Ukraine, Ribas Hotels Group has issued its latest insights through the "Hotel Market Review of Ukraine 2024".
This comprehensive review sheds light on the resilience of Ukraine's tourism sector, navigating through myriad challenges including the ongoing conflict, the COVID-19 pandemic, and territorial disputes. Although the collective accommodation facilities have seen a decline since 2013, with a yearly decrease of about 175 facilities, specific sectors such as hotels, motels, and hostels are on the rise. This upward trend persists despite the war's toll, which saw 12 hotels either destroyed or severely damaged.
The report reflects an industry showing remarkable determination, buoyed by domestic tourism, the accommodation needs of temporarily displaced persons and relocators. Tax revenue from tourism in 13 Ukrainian regions has even surpassed pre-war levels of 2021, suggesting a strong recovery under difficult circumstances.
A noteworthy aspect of the review is the growth of hotels managed by national operators like Ribas Hotels and Optima Hotels, particularly in regions such as Bukovel, Lviv, Vinnytsia, and Khmelnytskyi. The market leadership is held by Optima Hotels, followed closely by Ribas Hotels and Premier Hotels and Resorts.
The expansion is not limited within the borders of Ukraine. The war and current market conditions have propelled Ukrainian hotel chains like Reikartz, Premier Hotels, and Ribas Hotels to explore opportunities abroad, in countries including Kazakhstan, Uzbekistan, Georgia, Hungary, Poland, and Moldova.
Despite the adversities, international hotel chains continue to mark their presence, with Accor and Radisson leading in the number of hotels. Foreign investment and launches have contributed positively to the dynamics of the hotel market in Ukraine.
The first quarter of 2024 witnessed a significant increase in taxpayers within the tourism sector, marking a 19% year-on-year increase. The revenue influx to the state budget from this sector has been notably on the rise. Occupancy rates by mid-2024 have stabilized, with some regions recording figures comparable to leading global tourism centers.
Looking ahead, Ukraine embarks on an ambitious project pipeline with plans to develop at least 45 hotel and apartment complexes and 108 hotel-type cottage towns between 2024 and 2026. This reflects a growing interest in income-generating real estate as a viable savings avenue for Ukrainians.
However, a gap between supply and demand is evident. With 2,017 hotels currently operational, the country still faces a shortage of accommodations to meet future expectations. Post-war tourist influx forecasts suggest a need for a significant increase in rooms to accommodate an estimated 14.5 million visitors.
The "Hotel Market Review of Ukraine 2024" discloses a sector that, despite facing significant trials, exhibits a tenacity for growth and an adaptive response to both internal and external pressures. The roadmap laid out for the impending years underlines a keen focus on expanding and modernizing Ukraine's hotel market to better cater to anticipated demands and secure its place in the global tourism landscape.
In Ukraine, during the war, chain hotel brands continue to operate both under the management of international operators ("Radisson", "Hyatt", "InterContinental", "Accor", "Wyndham", "Hilton", "Rixwell", and under the management of national ones ("Optima Hotels", "Ribas Hotels", "Premier Hotels", "Senator Hotels", "Vertex Hotel Group").
The leading place in terms of the number of hotels in Ukraine is occupied by "Optima Hotels" (64 hotels), "Ribas Hotels" (20 hotels), "Premier Hotels and Resorts" (11 hotels), and among foreign chains - "Accor" (9 hotels) and "Radisson" (5 hotels).
International penetration into the regions is almost absent: among the 22 existing transnational hotels, 14 (or 64%) are located in Kyiv, 4 in Lviv (or 18%), 2 in Odesa (or 9%), 1 in Truskavets (4.5%), Bukovel resort = 1 (4.5%).
If the number of rooms does not meet demand, it will be necessary to increase the number of rooms by at least 30-40% of the available number.
ANNOUNCED AND PROSPECTIVE HOTEL PROJECTS IN UKRAINE
? AMA Family Resort — 95 rooms
? Apartel Kosyno — 124 rooms
? OTAMAN Resort & SPA — 46 rooms
? Rikka KHUST thermal resort — 130 rooms
? Europe Plus — 37 rooms
? Cardinal — 37 rooms
? AHNI — 143 rooms
? APART HALL — 517 rooms
? Apart Hotel Garda — 32 rooms
? Apartel Skhidnytsya — 390 rooms
? Berghouse Apartments — 95 rooms
? Crystal Hills — 75 rooms
? Escape City — 360 rooms
? Glacier — 198 rooms
? Golden Space — 55 rooms
? GRAND FAMILY — 0 rooms
? Grand Family Zakarpatya — 30 rooms
? Green Park Polyana — 91 rooms
? Green Rest — 116 rooms
? KARDAMON Resort & SPA — 126 rooms
? Kristal Plaza — 72 rooms
? Le Méandre — 164 rooms
? LemCity — 30 rooms
? Lemonte Spa & Conference hotel — 200 rooms
? LEV RESORT HOTEL — 137 rooms
? MELIS — 300 rooms
? Mountain Residence — 353 rooms
? Phoenix Medical Resort — 308 rooms
? PHOENIX PLAZA — 110 rooms
? PRAUD select — 42 rooms
? Silver Med & Apartments — 31 rooms
? Smart Hill & WOL by Ribas — 315 rooms
? Smart House — 84 rooms
? Smart Well — 237 rooms
? SODA APARTS & VILLAS — 8 rooms
? VELMY — 492 rooms
? VERTEX VILLE — 100 rooms
? WELL towers — 311 rooms
? WOL. Green Polyana — 101 rooms
? Wood Apartments — 100 rooms
? Agate Resort & SPA — 31 rooms
? Melanit Resort & SPA — 66 rooms
? Nafta — 8 rooms
? Yaremche — 100 rooms
ANNOUNCED COTTAGE TOWNSHIPS OF HOTEL TYPE:
? Alpland Haus — 12 rooms
? Apartel Shayan Villas — 14 rooms
? Apex — 14 rooms
? Après-Ski Houses — 6 rooms
? Atlant House — 8 rooms
? BARVY — 8 rooms
? Belvedere — 4 rooms
? Berghouse — 86 rooms
? BESKID HOME RESORT — 9 rooms
? Besora — 50 rooms
? Black&White Villas — 8 rooms
? Bukovillage Residence — 7 rooms
? Calluna Chalet — 2 rooms
? Central Town — 5 rooms
? City Villa Club — 27 rooms
? COMFORT TOWN — 18 rooms
? CONTINENT HOME — 8 rooms
? ECO BERGHOUSE — 25 rooms
? Eco Land — 6 rooms
? EffectHOME 11 — 24 rooms
? EffectHOME 12 — 20 rooms
? EffectHOME 13 — 12 rooms
领英推荐
? EliteHOME — 18 rooms
? Emshir Villas 10 rooms
? Enhance Bukovel — 6 rooms
? Family Town — 20 rooms
? GOLDHILL — 12 rooms
? GORA — 27 rooms
? GORDO RESIDENCE — 44 rooms
? Green Horizon — ? rooms
? Greenhill chalet — 16 rooms
? Gutenberg — 53 rooms
? Happy — 8 rooms
? HAPPY HOUSING — 12 rooms
? Hillside — 5 rooms
? Hygge Town — 12 rooms
? IT Village — 80 rooms
? Kraishi — 52 rooms
? LAGOM — 26 rooms
? Lake House Sokilnyky — 4 rooms
? Lisnova — 35 rooms
? Malevich Holl — 10 rooms
? Migovo Ski & SPA — 7 rooms
? Module House Polyana — 18 rooms
? Mountain Black Diamond — 17 rooms
? Nevi — 10 rooms
? Noble House — 11 rooms
ANNOUNCED COTTAGE TOWNSHIPS OF HOTEL TYPE:
? NOVA HUTSULSHCHYNA — 13 rooms
? Osokor — 12 rooms
? OZON Village — 88 rooms
? Phoenix Relax Park — 49 rooms
? Polyanytsya Hills&Spa — 34 rooms
? POTAY — 47 rooms
? Praud Hills — 138 rooms
? Prime Hill — 12 rooms
? RAIT HOUSE — 6 rooms
? RIVERHOME — 27 rooms
? Riviera City Park — 55 rooms
? Royal Estate — 30 rooms
? San Marco — 8 rooms
? Scandi house — 15 rooms
? SHANA. villas — 10 rooms
? SHERWOOD — 68 rooms
? SKOGUR — 93 rooms
? SMALL TOWN — 5 rooms
? SmartBud — 4 rooms
? SOHO — 60 rooms
? Soul House — 4 rooms
? Starville — 16 rooms
? Stone Village — 56 rooms
? Sttk #15 — 22 rooms
? Sttk #16 — 6 rooms
? Tatariv Hills — 4 rooms
? TrueVille — 14 rooms
? TYSHA — 10 rooms
? TYSHA Chalet Resort — 5 rooms
? ULIS — 45 rooms
? Valley Rest — 5 rooms
? Veres Hill — 8 rooms
? VERHGORY — 8 rooms
? Villa Crystal — 8 rooms
? VIVA-CHERNIVTSI — 9 rooms
? WEST TOWN — 120 rooms
? WOODSIA — 15 rooms
? YUGEN — 37 rooms
? Veselka — 7 rooms
? Galitsky Lis — 4 rooms
? Gora — 27 rooms
? Gorikhova Dolyna — 10 rooms
? DIMLIS — 50 rooms
? Dolishniy — 44 rooms
? Forest Residence Polyana — 51 rooms
? ZUBRA ETALON — 35 rooms
? KRASIYA RESIDENCE — 50 rooms