The Premier Palace Hotel (Kyiv) made a net loss of UAH 15.7 million in 2022, compared to net profit of UAH 66.4 million in the previous year.
According to the annual financial report in the information disclosure system of the National Commission on Securities and Stock Market, the net income of the hotel last year decreased by 42.1% – to 143.9 million UAH.
According to the company, last year the hotel’s operating profit decreased 13 times compared to 2021 and amounted to 6.7 million UAH. Its uncovered loss increased by 2% up to UAH 978.5 mln. Current liabilities decreased by 3.7% to UAH 378.2 mln, while there were no long-term liabilities at the end of the year.
In general, the value of assets of the company for the year decreased by 10.3% to 265.8 mln hryvnia.
As stated in the report, the main negative factor that affects the work of the hotel in 2022, was the military aggression of the Russian Federation. Besides it is stated the absence of state programs of hotel business support and imperfect system of tax legislation.
The hotel plans to increase guest satisfaction index from 92,5% to 95% in 2023 by implementing a renewed concept Ideal Meeting. Plans also include attracting/expanding new segments of embassies, international foundations and missions, which will be the main driver of demand until the end of hostilities in the country.
Premier Palace Hotel PJSC was registered in 2004. According to the National Commission on Securities and Stock Market, as of the fourth quarter of 2022, its shareholders are Pumori Enterprises Investments Ltd. (Cyprus, 62.2%) and Ukrainian LLC “East European Hotel Company” (24.1%), LLC “Hotel Complex Rus” (13.5%).
According to Opendatabot, the beneficiary is Natalia Selivanova.
Premier Palace Hotel Kyiv is owned by the Financiere group which also owns Premier Hotel Dnister (Lviv), Premier Hotel Lybid (Kiev) and Premier Hotel Odesa (Odessa). The group includes hotel holding Pumori Enterprises Investments LTD and East European Hotel Company LLC, which are shareholders of Ukrainian hotels.
Premier Palace Hotel (Kyiv) in 2020 received UAH 10.3 million of net profit, while in the previous year net profit amounted to UAH 112.6 million.
According to the message of the company in the information disclosure system of the National Securities and Stock Market Commission on the meeting of shareholders on April 6, net profit per share amounted to UAH 0.007.
Undistributed profit of the hotel slightly decreased to UAH 1 billion.
The total accounts receivable decreased by 26.3%, to UAH 12.7 million, long-term liabilities by 52.8%, to UAH 163 million, while the current ones increased by 87.3%, to UAH 286.7 million.
In general, the company’s assets decreased by 11.7% and amounted to UAH 297.2 million.
The shareholders also intend to use 95% of the profit received in 2020 to cover losses of previous periods, and 5% for the formation of reserve capital.
Premier Palace Hotel is part of the Premier Hotels and Resorts chain managed by Premier International LLC (Kyiv).
Premier Hotels and Resorts (Premier International LLC) unites 17 hotels of categories of three-five stars under the following brands: Premier Palace Hotels, Premier Hotels and Premier Compass Hotels. The hotels are located in Kyiv, Kharkiv, Dnipro, Lviv, Odesa, Poltava, Sumy, Kherson, Pochaiv, Mukachevo (Zakarpattia region), Oleksandriya (Kirovohrad region). The total room supply of the chain is more than 2,100 rooms.
