With an expected surge in European tourism to Kyiv this spring and summer, the capital needs more hostels and two and three star hotels

With an expected surge in European tourism to Kyiv this spring and summer, the capital needs more hostels and two and three star hotels, Maryna Rymarenko, partner at DEOL partners, tells reporters. “This segment can have a fast payback period – from three to five years. However, it should be located in the center of the city, and the cost per square meter is growing.” For high end hotels, low occupancies of about 45% depress room revenues and rule out new projects. She said: “For the five-star hotels [the average room revenue] was $89, for the four-star hotels it was $70. Compared with other countries, it is too catastrophically low to talk about the prospects of opening new facilities next year.”