Foreign and local investors have stepped up deals in Thailand’s hotel market, betting on buying properties in prime locations for subsequent renovation, upgrading, and “repositioning” in a more expensive segment, The Nation Thailand reported.
Colliers Thailand estimates that the value of hotel deals in the country could exceed 12 billion baht in 2026, while in 2025, about six hotels with 1,574 rooms were sold for a total of 10.14 billion baht, with the main locations of interest to investors being Bangkok, Phuket, Samui, Pattaya, Krabi, and Chiang Mai.
Colliers also points to the typical “investment profile” of such deals: investors are more likely to choose properties with an expected return of 6% per annum, buildings up to 10-15 years old, and hotels with more than 150 rooms in order to reduce capital expenditures and improve the economics of the project. Against the backdrop of a decline in the average occupancy rate across the country in 2025 to approximately 72%, hoteliers maintained and increased their rates, which supported RevPAR and interest in upgrading product quality.
Separately, JLL Hotels & Hospitality Group reported that 2025 was a record year for Thailand’s hotel transaction market, with total deal volume estimated at 26.4 billion baht, and investors increasingly considering reconceptualization projects and mixed formats, including hotels with branded residences.
Demand for short trips within one to two hours of the metropolis is steadily growing: 69% of Ukrainians need this type of recreation, Artur Lupashko, founder of Ribas Hotels Group, told Interfax-Ukraine.
“According to a survey of regular guests of Ribas Hotels, 69% of Ukrainians want to recharge their batteries without having to travel long distances. It is this demand that has generated interest in short suburban vacations,” he said.
According to Lupashko, most popular tourist destinations require significant travel time, which makes one- or two-day trips ineffective. In line with the latest trends, the most popular are complexes focused on short suburban vacations.
Overall, the demand for short-term vacations among city dwellers has a positive impact on the financial performance of such hotels. In particular, in January 2026, compared to January 2025, occupancy rates in Odessa hotels increased by 7%, and revenues by 25-28%.
In the Kyiv region, in the new cottage town of Mandra Petrichor (Makariv district), demand is increasing occupancy on weekdays and leading to 100% room reservations on weekends. That is why, after the opening of the first phase of Mandra Petrichor, where 20 A-frame cottages are available for booking, the launch of the second phase is planned for 2026. In general, the project envisages three conceptually different phases, focused on different types of recreation — for couples, families with children, and groups of friends.
Ribas Hotels Group is an international full-cycle management company and hotel business ecosystem founded in 2014 in Odesa. It brings together the entire process — from site selection, design, and construction to management, franchising, and investment. Ribas Hotels Group is the only hotel group that independently covers all stages of hotel project creation and development.
The company’s portfolio includes 56 projects under construction, launch, or management, including in Ukraine, Poland, Turkey, and Bali. The company develops 3-, 4-, and 5-star city and resort hotels under the Ribas Hotels, Ribas Rooms, WOL home + hotel, and Mandra Moments brands. The operator’s total room capacity is over a thousand rooms.
According to Srpski Ekonomist, several top international brands – InterContinental, Swissotel and Ritz-Carlton – are entering the Belgrade hotel market, amid expectations of increased demand in connection with preparations for EXPO 2027 and plans to expand the room stock in the capital.
According to estimates cited by market participants, in 2027, during the EXPO period, Belgrade could receive about 4 million guests in just three months, while Serbia as a whole had about 4 million tourists in 11 months of 2025. In this logic, the acceleration of hotel projects is perceived as an infrastructural necessity, but there is already a question whether the market after the EXPO will be able to sustainably “digest” the growth of supply, especially in the segment of high categories.
InterContinental returns to Serbia in partnership with Delta Holding: IHG reported that InterContinental Belgrade is planned to open by the end of 2026. The project is part of the Delta District mixed-use complex in Belgrade’s business and financial center; 203 rooms are announced, and features include a sky pool, rooftop restaurant and bar, spa and conference infrastructure.
Swissotel is planned in the EXPO zone in Surcin. Euro KB Rent will receive state aid in the amount of EUR 15.986 million, which will be paid in two tranches in 2026 and 2027. The minimum investment for the project is estimated at EUR 79.9 million; the materials also indicate that the hotel will include a congress center and spa/wellness with two swimming pools, and a room stock of 378 rooms.
The Ritz-Carlton in Belgrade is planned as part of the redevelopment of the former Hotel Jugoslavija site on the Danube waterfront. Marriott International reported that the property is envisioned with 193 rooms and more than 1,700 square meters of event space, while the project itself also includes residential and office towers, a conference center, a marina and a promenade area. Millennium Team, associated with the project through Danube Riverside, estimates the total investment in the complex at almost 500 million euros, with the hotel opening announced for 2027.
EXPO-2027 in Belgrade will take place from May 15 to August 15, 2027, with more than 130 countries having already officially confirmed their participation, according to the organizing committee’s data
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Tourists spent a total of 3.08 billion nights in hotels, hostels, and rented apartments in the European Union in 2025, according to preliminary data from the EU statistical office.
This is 2% (61.5 million) higher than in 2024 and is a record. Compared to pre-pandemic 2019, the growth was 7.2%.
At the same time, the number of overnight stays by foreign guests increased by 46.1 million last year, while for EU residents this figure rose by 15.4 million. The former account for 48.6% of the total, while the latter account for 51.4%.
An increase in tourist activity was observed in all EU countries except two. The most significant growth in tourist numbers was recorded in Malta (+9.9%) and Poland (+7%), while the number of overnight stays in Romania fell by 1.4% and in Ireland by 1.8%.
The most popular tourist destinations for foreigners were Spain (330 million overnight stays), Italy (264 million), France (150 million), and Greece (131 million).
Hotel occupancy in the Carpathians in winter 2026 is expected to be 85-95%, and in cities — 50-65%, according to a study by the Ribas Hotels Group.
According to analysts, an increase in average hotel occupancy is expected in mountainous regions. With normal snow cover, peak occupancy in Bukovel will be 85-95%.
In cities, according to Ribas Hotels Group forecasts, hotel occupancy will be approximately 50-65%. Winter hotel occupancy in Odesa will reach 45-65% depending on the concept of the enterprise.
According to a survey conducted by the company, this year people prefer aparthotels and cottages that satisfy their need for privacy and autonomy. City business hotels are also in stable demand, allowing guests to work comfortably thanks to quiet areas and uninterrupted internet.
Among the trends is an increase in group bookings among different population groups. Stable demand in December and February comes from corporate groups. An increase in interest among families and friends is expected, with the number of family bookings likely to grow by 10–15% and the size of “groups of friends” from 4–6 to 6–8 people. This is why there is a growing need for family rooms, two-room apartments, and cottages, which necessitates booking rooms for groups in advance during peak dates. In 2026, a significant increase in the “booking window” is predicted — from 7–14 days to 21–35 days.
“Guests are taking vacation planning more seriously. In search of more favorable offers, they prefer early bookings with a fixed price,” the company’s analytics note.
This winter, there has been a 25-30% increase in direct bookings through the website. At the same time, although OTA platforms such as Booking, Expedia, etc. provide stable demand, their share is declining to 10-20% this winter season. The most effective booking channels are currently social networks (especially Instagram/Telegram) and quick sales through administrators and chatbots (up to 60%). This is due to their convenience, transparent special offers, more active advertising, and bonuses for repeat guests.
“For the first half of 2026, we predict the rise of major trends: guests’ desire for comfort and privacy, hyper-personalization of service, and the workation format (combining leisure with work). Due to affordability, people are traveling more often within Ukraine and spending more time on travel. A partial return of deferred demand is expected this winter season,” the study notes.
A number of factors influence the dynamics of domestic tourism: transportation prices, stability of energy supply in hotels, and healthy lifestyle trends. That is why the number of wellness hotels is actively growing in Ukraine.
Ribas Hotels Group is an international management company founded in 2014 in Odesa, whose flagship service is the operational management of hotel and restaurant complexes. The company also provides services in concept development, design, support for all stages of project implementation, consulting, and franchising for developers.
The company comprehensively manages and exclusively books 28 city, beach, and ski hotels under the Ribas Hotels, Ribas Rooms, WOL home + hotel, and Mandra Glampings brands. The operator’s total room capacity is over 1,000 rooms. In total, the portfolio includes more than 50 projects, including those in the design and construction stages. The company is also currently developing properties in Poland and Indonesia.
According to Serbian Economist, the Serbian parliament has passed a special law that accelerates preparations for the development of the site of the former Yugoslav National Army General Staff Headquarters in central Belgrade, which was damaged by NATO strikes in 1999. The developer is Affinity Global Development, an investment company founded by US President Donald Trump’s son-in-law Jared Kushner.
The project, worth about $500 million, involves the construction of a hotel, apartments, offices, and retail space, as well as a memorial space for the victims of the bombing.
A 99-year lease agreement with the Serbian government was signed in May 2024. In November 2024, the site was stripped of its protected cultural heritage status, paving the way for the project to go ahead. The adopted lex specialis simplifies and speeds up the issuance of permits and other administrative procedures, the authorities noted.
The opposition and relevant organizations criticize the decision, citing the cultural value of the complex and legal risks. Europa Nostra has included the General Staff Headquarters in its list of the seven most vulnerable European heritage sites of 2025. Radio Liberty notes that the law was passed with the votes of the ruling party, despite protests and an investigation into possible falsification of the document used to remove the protective status.
Affinity Global Development’s public statements and official communications do not mention the hotel brand, number of rooms, number of floors, room area, parking, or exact completion date. International agencies limit themselves to describing the functional mix without specifications. When official materials on the TEP and branding appear, the editorial staff of Serbian Economist will clarify the data.
The government is promoting the project as an investment and revitalization of Belgrade’s central location. Critics believe that the demolition and new construction will damage the modernist legacy of architect Nikola Dobrovic and the public memory of the events of 1999.
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