Business news from Ukraine


21 May , 2020  

The cost of staying in three- and four-star hotels in Odesa has decreased by half compared to the same period in 2019 and averages UAH 650 per day ($24), founder of Ribas Hotels Group Artur Lupashko has told Interfax-Ukraine.
“Today, the average price in three- and four-star hotels is UAH 650 per day ($24) in Odesa. This is an unprecedented low rate over the past 20 years. In the same period last year, such a room cost at least twice as much and was three times more expensive in 2013,” Lupashko said.
According to his estimates, the expected decline in gross income and net profit of hotels will be 20-40% in 2020 compared to the indicators in 2019.
“The positive dynamics can continue in cottage-type hotels and recreation centers, which have been in high demand since April and have increased in price in some cases up to 50%. Some of them have already been booked for the whole summer by guests who, as a rule, spent the summer in Cyprus, Spain, Italy,” he said.
However, hotels do not count on guests from other countries in 2020.
“The vast majority of Belarusian tourists were in the resort budget hotels. According to information available today, guests from Belarus will not be allowed to Ukraine this year. Most likely, these may be guests from Moldova and Turkey in the second half of the year. However, the share of such tourists will be minimal and will not have significant influence on the market,” the expert said.
Ribas Hotels Group collaborates (management and booking) with 25 hotel and restaurant complex facilities (beach and ski hotels, hostels and recreation centers), two of which are its own. The company’s portfolio includes Wall Street Hotel business hotel, Bortoli city mini-hotel (all are located in Odesa), Richard hotel complex (Hrybivka), Kyparys park hotel (Yuzhne), Seazone mini-hotel (Karolino-Buhaz), a chain of youth hostels Friday and others.
The total number of rooms of the chain was 1,234 rooms in various forms of cooperation at the beginning of 2020.
Ribas Hotels Group provides integrated management, exclusive booking, franchising and design services.
Ribas Hotels Group LLC was established in 2017. According to the unified register of legal entities, individual entrepreneurs, director and owner of a 100% stake in charter capital of the company is Lupashko.

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