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.
Ribas Hotels Group LLC (Odesa), the managing company of the national network of tourist hotel and restaurant complexes of three- and four-star categories, has postponed the opening of the Bautzen hotel in Jelenia Gora (Poland) until the end of 2021, but it does not exclude another postponement.
“Yes, the pandemic has affected the construction time. We are continuing construction, but the deadlines are likely to be postponed even from those announced on our website today (this is the end of 2021),” founder of Ribas Hotels Group Artur Lupashko told Interfax-Ukraine.
According to him, during the lockdown in Poland, it was impossible to carry out construction work. In addition, 90% of the builders involved in the site are from Ukraine, and experienced difficulties in entering Poland due to quarantine restrictions.
Previously, Ribas Hotels Group planned to launch the Bautzen hotel in the spring of 2021. According to the company, after the launch, the three-star hotel will include 23 rooms. The total area will be 1,087 square meters. The object will be the first in the portfolio of the operator outside of Ukraine.
According to estimates by Ribas Hotels Group, the planned return on investment in the opening of Bautzen is 10% per annum.
Ribas Hotels Group cooperates (management, franchising and booking) with 25 hotel and restaurant facilities (city, beach and ski hotels). The company’s portfolio includes business hotels Wall Street by Ribas and Bossfor by Ribas (Odesa), ski hotel Ribas Karpaty (Bukovel, Ivano-Frankivsk region), beach complex Richard by Ribas (Odesa region). Hotels in Lviv and Kyiv, as well as in Poland, are currently at the design and construction stage.
Ribas Hotels Group LLC (Odesa), the managing company of the national network of three- and four-star hotel and restaurant complexes, plans to complete the acquisition of a hotel in Bukovel, Ivano-Frankivsk region, by the end of 2018, and in two or three years to gain a foothold in all resort regions of Ukraine.
“We are positioning ourselves as a network of tourist-oriented hotels. Therefore the main focus is on Western Ukraine: in September we are buying a hotel in Bukovel, we are negotiating for the purchase of a 50% stake in one of the largest hotels in Lviv. We also plan to launch a hostel or an apart-hotel. We are looking to the hotels for rent in Kyiv,” Artur Lupashko, the founder of Ribas Hotels Group, told Interfax-Ukraine.
According to him, the opening of a hotel in Bukovel is scheduled for the third and fourth quarters of 2019. The facility is unfinished and it will take eight or nine months to complete all the works.
Lupashko added the company also plans to enter the international market.
Ribas Hotels Group also plans to develop a franchise direction.
Ribas Hotels Group provides comprehensive management services, the services of exclusive booking, franchising, design.
