Recent events in Ukraine brought significant changes to the travel market in Ukraine. The deep economic and geopolitical recession, including continuing conflict in the eastern part of the country, led to a downturn in foreign visitors over 2014-2015.
The improved social conditions and large events also supported travel in 2017. The 2017 Eurovision Song Contest and world hockey championship, which took place in Kiev in the spring, stimulated occupancy rates of high-end hotels.
As the political and economic crisis unfolded in 2014, occupancy rates of both chained and independent luxury hotels suffered substantially. However, from 2015, this began to improve gradually in the key travel destinations.
In 2016, world-renowned chained hotels continued to lead luxury hotels (5-star), being preferred by affluent travellers in Ukraine. Premier International led, with two 5-star hotels.
The popular seaside resort of Odessa is also well known for the number of luxury hotels with spas and other popular services. However, in this location independents dominate with a wide variety of choice, including the most notable hotels, Duke Hotel and Hotel Bristol Odessa.
The recent improvements in the economic situation and easing of geopolitical tensions have created more favourable conditions for international players to enter the market. In July 2017, world-renowned AccorHotels opened a new boutique hotel in the heart of Odessa, Hotel De Paris MGallery by Sofitel.
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Understand the latest market trends and future growth opportunities for the Luxury Hotels (5-star plus) industry in Ukraine with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Hotels (5-star plus) research and analysis database.
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