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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Investment and development company GORO Development, part of the OKKO group of companies, has sold more than 50% of the rooms in its first hotel project at the GORO Mountain Resort near Slavske in the Lviv region, the project’s press service told Interfax-Ukraine.
It is specified that 103 of the 197 rooms of the first hotel of the ONDE Hotel complex, investment in which was launched in March 2025, have been sold. The ONDE complex will consist of three hotels with a total of 429 rooms, with construction completion and launch scheduled for summer 2028.
GORO Development is implementing an international business model called “resort hotel rooms as investment.” Private investors purchase individual rooms with unified professional management, the possibility of asset capitalization growth, and profits from the hotel’s operating activities, according to the press release.
“We have investors from a wide range of sectors: IT, agriculture, manufacturing, finance, and real estate. Over 90% of our investors are entering the project with a view to long-term participation, i.e., they plan to remain in it after construction is completed in order to receive a stable income from the hotel’s operations,” said GORO Development CEO Volodymyr Garazd, as quoted in the press release.
The company specified that as of early August 2025, more than 50 private investors had chosen the project: a quarter of them are representatives of the IT and communications sector, 10% are investors from agriculture, real estate, and construction, the financial sector, 6.7% are from defense tech and manufacturing, 5% are from the energy and automotive industries, 4% are from law, and 3.3% are from retail, education, and logistics.
In terms of geographical origin, Kyiv and Lviv lead the way (33.3% each), followed by Dnipro (5.6%), Zhytomyr and Vinnytsia (3.7% each). There is also active interest in the project from Ukrainians living abroad.
In the first four months after the start of sales, the cost of rooms at GORO Mountain Resort increased by 5.7%, which corresponds to an annual rate of 17.1%. At the initial stage, one-room apartments and rooms with a separate bedroom were in the highest demand. These formats accounted for the majority of sales, resulting in a 14% increase in their price, which is 2.5 times higher than the average increase for the complex. At the current stage, demand is beginning to shift towards larger formats such as executive suites.
According to GORO Development’s analytics, the expected return on investment for the entire implementation period may exceed 57%, with a projected average return on a hotel room after the complex is launched at 10% per annum.
OKKO Group began construction of the large-scale GORO Mountain Resort recreation project in October 2024.
The total area of the GORO Mountain Resort project is almost 1,200 hectares.
In the first phase, covering an area of 127 hectares, nine hotels with 1,100 rooms will be built with a developed recreational infrastructure: spa areas, swimming pools, restaurants, children’s and business spaces. The total investment in the first phase of the hotels is $235 million. Construction is currently underway on the first ONDE complex, each of whose three hotels will have its own theme and functional content: entertainment, business, and relaxation.
Additional infrastructure includes 309 parking spaces, a hotel for animals, a fitness and yoga center, boutiques, a beauty salon, a barbershop, and restaurants serving national cuisines from around the world.
The first phase also includes the construction of 10 ski slopes with a total length of 13 km and 50 hectares of snowmaking facilities, the installation of the longest gondola lift (2.8 km) and two modern chairlifts with a length of 1.5 km.
The resort’s hotel real estate is being developed and investments are being attracted by the investment and development company GORO Development, founded in 2021. It is responsible for the development of architectural concepts, construction, functional and recreational content, as well as attracting investments in the hotel business.
OKKO Group is the sole owner, main investor, master developer, builder, and operator of GORO Mountain Resort to ensure the harmonious development and comprehensive concept of the all-season recreational project. To create an international format, OKKO Group has brought in world-class Austrian experts: PKF Hospitality (investment analysis and concept), ILF Group (master plan and ski infrastructure), and Doppelmayr/Garaventa Gruppe (design of the lift and cable car system).
