The occupancy rate of Lviv hotels in 2024 dropped to 49% compared to 52% in the same period in 2023, the press service of the Hotel Matrix hotel analytics project reports.
“The year 2024 was a period of significant changes for the Lviv hotel market: the city lost part of its business tourism status to Kyiv. The decline in corporate and business bookings led to a decrease in overall occupancy, which, despite active attempts to increase ADR, could not fully compensate for this loss, leading to a decrease in annual RevPAR compared to 2023,” Hotel Matrix reported.
According to Hotel Matrix, the average daily rate (ADR) for the reporting period amounted to UAH 2785, which is 5.8% more than in the same period in 2023. At the same time, RevPAR (revenue per available room per day) decreased by 3.2% to UAH 1375.
“Despite the 5.8% increase in the average room rate, it was not enough to compensate for the decline in occupancy. This indicates that Lviv hotels, although they were able to adapt their tariff policy, were unable to cope with the complete loss of customer flows, which led to a decline in RevPAR in 2024,” the study says.
It is noted that Lviv hotels should revise their hotel strategies for 2025 to compensate for these changes in the dynamics of customer flow.
Hotel Matrix is a web-based hotel analytics product developed by experts from Poland and Ukraine. It was launched in May 2020. Currently, 200 hotels are connected to Hotel Matrix.
