Business news from Ukraine

Business news from Ukraine

Resort in heart of Kyiv – Tsarsky Hotel

Tsarsky Hotel is the epitome of luxury and comfort in the heart of Kyiv. Located in the center of the capital, it gives guests not only an incredible experience, but also a unique atmosphere of peace and tranquility, which allows you to completely disconnect from the bustle of the metropolis.


The Tsarsky Hotel offers luxurious deluxe apartments, each of which is a true masterpiece of design. Spacious rooms of 44 and 47 m² create a feeling of spaciousness and comfort. Each room has been thought out to the smallest detail: stylish interiors, modern technology and luxury elements that provide maximum comfort. Particularly noteworthy are the king-size beds, where even the most demanding guest will find true peace. For your convenience, there is a separate seating area where you can relax after a day full of experiences.
To make your stay even more comfortable, the hotel offers a unique pillow selection option. Thanks to the pillow menu, you can choose the one that best suits your preferences and habits: down, memory foam or orthopedic pillow. This is the perfect solution for those who want to feel at home even while traveling.


The bathroom of the rooms is the place where you will want to spend more time. In addition to a luxurious jacuzzi that will allow you to turn your evening into a real spa session, each room is equipped with high-quality body cosmetics from well-known brands. To take care of your comfort, you will find branded leather cosmetic bags in your room that you can take with you as a memory of your stay at the hotel.
For your leisure time, the rooms have everything you need: access to popular streaming platforms such as Netflix, YouTube, and Megogo, allowing you to enjoy your favorite movies and TV shows at any time of the day. In addition, the room has multi-level lighting that creates an atmosphere of warmth and comfort. You can choose the intensity of the light depending on your mood, which will add even more comfort and tranquility.
Another advantage of the hotel is the availability of a minibar with a wide range of drinks, which will allow you to enjoy your vacation at any time.
Thanks to all these elements, Tsarsky becomes an ideal place for those who seek not only a comfortable stay, but also luxury that surrounds them at every moment. This is a place where every detail works for your maximum comfort, and you can feel like a part of an elite environment. Silence, sophistication, attention to every detail – all this makes your stay at the hotel unforgettable.
Breakfast at Tsarsky Hotel is a moment you will want to repeat. Your mornings here will smell like freshly brewed coffee and delicious breakfasts from the menu. If you need to leave early, a lunch box will be prepared for you to make your day start deliciously even on the road.
Guests of the Tsarsky Hotel can spend the day in the aqua lounge with a personalized guest visit. This is a place where water, tranquility and elegance meet in perfect harmony. The wonderful atmosphere will help you reboot and forget about your worries. Immerse yourself in luxurious relaxation: swimming pools, jacuzzis, steam rooms, baths, massages and broom steams. Add to the benefits of your body with body wraps and peels.
A state-of-the-art gym with the latest fitness equipment is also available for your perfect workout.
Details that matter!
Your car is waiting for you in our free parking lot, and we’ll take care of the rest. While you’re relaxing, our car care specialists can wash and maintain your car. You know how nice it is to get into a clean and comfortable car after a relaxing day.
For those who appreciate sophistication and great deals, we have great news: book your apartment with a 10% discount. Just enter the promo code Hotel10 in the comments when making a reservation on the website: https://tsarsky.com/hotel
Tsarsky Hotel is a place where time stands still. A place where you do not think about business, but simply enjoy every moment.
Make a gift to yourself or your loved ones – book your perfect room right now and make sure that a luxurious vacation is possible even in the heart of Kyiv!

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In 2024-2026, 45 new hotels and 108 hotel-type cottage towns planned to be built in Ukraine

In the Ukrainian hospitality market, 45 new projects of hotel and apartment complexes and 108 hotel-type cottage towns are planned for 2024-2026, according to a study by Ribas Hotels Group.

According to it, in the next two years, the announced replenishment of the room stock is 6670 rooms for hotels and apartments, and 3097 houses for cottage communities.

According to the study, as of mid-2024, there are 2017 hotels operating in Ukraine, while 12 facilities have been destroyed or damaged since the start of the full-scale war.

Optima Hotels (64 hotels), Ribas Hotels Group (21 hotels) and Premier Hotels and Resorts (11 hotels) are the leaders in terms of the number of hotels. Among the foreign chains, Accor with nine hotels and Radisson with five are the leaders in terms of the scale of their presence.

The average occupancy rate of Ukrainian hotels in the first half of 2024 was 34-38%, and in some regions in the west of the country (Lviv, Ivano-Frankivsk, and Zakarpattia regions) it reached 60-70%.

According to the study, since 2013, the total number of collective accommodation facilities has been decreasing by an average of 175 facilities annually, mainly due to health facilities, sanatoriums, health resorts, boarding houses with treatment, balneotherapy and mud hospitals, tourist bases, campsites, recreation centers and boarding houses. At the same time, the number of hotels increased by 9.1%, motels by 10.7%, and hostels by 28.7%.

According to analysts, after the war ends, the tourist flow in Ukraine may increase to 14.5 million people. Thus, the current room capacity will not be able to meet the demand. According to Ribas Hotels Group, the potential need for hotel rooms may be +30-40% of the current number.

It is noted that the study used data from the State Statistics Service of Ukraine, the State Agency for Tourism Development, the State Border Guard Service, the main statistics departments of Kyiv, Lviv and Lviv Regional State Administration, Odesa, Kharkiv, Dnipro regions, the Ministry of Culture and Strategic Communications, the State Register of Immovable Property of Ukraine, the Service Portal for Tourists, the Hotel and Statistical Aggregators.

New apartment hotel will be built in Zakarpattia region

Hotel operator Ribas Hotels Group and development company Arena Bud intend to build an Erwin Hall apartment hotel in the village of Polyana (Zakarpattia region), the operator’s press service has reported.

According to the press release, the hotel is scheduled to be commissioned in the third quarter of 2027. According to the project, the seven-storey hotel will have 116 apartments of different categories: smart, 1- and 2-room apartments with an average area of 32 square meters.

According to the founder of Ribas Hotels Group, Artur Lupashko, the estimated payback period of the hotel is up to 9 years, with a yield of up to 11.5% per annum.

“Mineral waters and unique nature have always provided a reliable tourist flow and turned Polyana into a resort that also has a good and safe location, as it borders Hungary, Slovakia, and Romania. We are also ready to cooperate with the local authorities and develop the surrounding areas, including infrastructure for drivers and pedestrians, landscaping and lighting,” explained Oleksandr Kurakh, CEO and founder of Arena Bud, as quoted in the statement.

Ribas Hotels Group is an international management company established 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 of all stages of project implementation, consulting and franchising for developers.

The company has 28 city, beach, and ski hotels under the Ribas, Ribas Hotels, Ribas Rooms, WOL home + hotel, and Mandra Glamping brands under integrated management and exclusive booking. The operator’s total room capacity is over 1000 rooms. In total, the portfolio includes 55 projects, including those under design and construction.

The company is currently developing facilities in Poland, Moldova, and Indonesia.

Arena Bud’s portfolio includes nine commissioned residential complexes with a total area of over 40 thousand square meters in the western regions of Ukraine.

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Ukrainian hotel occupancy increased by 39% in Kyiv and 46% in Bukovel – Mishchenko

Ukrainian hotel occupancy in May 2024 increased in Kyiv and Bukovel, while it decreased in Lviv and Odesa, Olga Mishchenko, Project Manager of Hotel Matrix, told Interfax-Ukraine.

“The occupancy of Ukrainian hotels in the first quarter of 2024 increased compared to the same period last year in Kyiv to 39% (+86%), in Bukovel – to 46% (by 13%), decreased in Lviv to 49% (by 14%) and in Odesa – to 23% (- 8%). In Kyiv, there is a positive trend in all indicators – the average daily rate (ADR) increased by 40% to UAH 2689, RevPAR (revenue per available room per day) by 158% to UAH 1041,” she said during the Hospitality Connect conference.

According to Hotel Matrix data, the average daily rate (ADR) for this period also increased in Bukovel – UAH 4190 (+13%), in Lviv – UAH 2729 (+7.15%), and decreased in Odesa – UAH 2126 (-6%).

RevPAR (revenue per available room per day) in May 2014 in Bukovel amounted to 1941 UAH (+30%), in Lviv – 1338 UAH (-8%), in Odesa – 490 UAH (-14%).

According to Hotel Matrix, as of June 2024, there are about 4 thousand three- to five-star hotels in Ukraine with a total of 110 thousand rooms. The estimated market volume as of May 2024 for accommodation services is UAH 2 billion 364.6 million.

Hotel Matrix is a web-based hotel analytics product developed by experts from Poland and Ukraine. It was launched in May 2020. Today, more than 200 hotels in Ukraine, Poland and Kazakhstan are connected to Hotel Matrix.

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Kyiv hotel occupancy rate was 35% in first quarter

The occupancy of Ukrainian hotels increased in the first quarter of 2024 in Kyiv and Odesa, and decreased in Lviv, Olga Mishchenko, head of the Hotel Matrix project, told Interfax-Ukraine.

“The occupancy of Ukrainian hotels in the first quarter of 2024 increased compared to the same period last year in almost all regions where the study is underway. In Kyiv, the growth is up to 35.44% (+64%), in Bukovel – to 53.91% (by 33%), in Odesa – to 21.85% (+5%). We note a decrease in the occupancy rate of Lviv hotels – down to 40.15% (- 20%),” she said.

According to Hotel Matrix, the average daily rate (ADR) for the period under review in Bukovel amounted to UAH 5909 (-3%), in Lviv – UAH 2865 (+2%), in Kyiv – UAH 2201 (-8%), in Odesa – UAH 1827 (+6%).

RevPAR (revenue per available room per day) in the first quarter of 2014 in Bukovel amounted to UAH 3185.8 (+29%), in Lviv – UAH 1150.2 (-20%), in Kyiv – UAH 779.65 (+52%), in Odesa – UAH 339.3 (+1%).

“We see that Lviv has a negative trend in terms of occupancy and revenue per available room. At the same time, there is a bright increase in RevPAR in Kyiv hotels (+52%),” Mishchenko highlighted the main trends of the quarter.

Hotel Matrix is a web-based hotel analytics product developed by experts from Poland and Ukraine. It was launched in May 2020. To date, more than 200 hotels in Ukraine, Poland and Kazakhstan have been connected to Hotel Matrix.

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New hotel will appear in Chernivtsi

Hotel operator Optima (formerly Reikartz) plans to open a new property in Chernivtsi in May 2024.

According to the operator’s press service, the new hotel will be opened under the Optima Collection brand.

The six-story hotel will have 58 rooms.

The Optima Hotels & Resorts chain unites more than 80 hotels in Ukraine, Sweden, Kazakhstan, Georgia and Uzbekistan.

Starting in 2023, Reikartz is rebranding its hotel chain in Ukraine under the new name Optima Hotels & Resorts. The operator operated under the Raziotel (a chain of three-star economy hotels), Vita, Optima (wellness resorts and three-star hotels), as well as Reikartz Collection and Reikartz Hotels & Resorts (three-star-plus and four-star business and resort hotels) brands.

Optima Hotel Management LLC was established in 2008. According to Opendatabot, the company’s shareholders are Volodymyr Kashutin (Lviv, 99.9%) and Andriy Dema (Kyiv, 0.1%). Kashutin is listed as the ultimate beneficiary. At the same time, until 2019, the beneficiaries were Russian citizens Yuriy Vasin, Leonid Lavrentiev and Timur Rodionov.

According to the financial results for 2023, the company’s net profit amounted to UAH 7 million, compared to a loss in 2022. Revenue increased by 40.8% to UAH 445.8 million.

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