Hotel Intelligence Kiev, Haf Year 2014 | JLL

The Kiev hotel market has been somewhat of a roller-coaster since the first branded hotels opened earlier in the 2000’s – the Radisson and the Hyatt. Extremely high rates were aligned to disappointing occupancies. Ongoing political and economic struggles over the past few years alongside a boost in hotel supply has put strong pressure on rates, with occupancies still below 60% in general until the current crisis. Both the dropping of the visa regime and the hosting of UEFA football championships have done little to stimulate the market – if anything this has stimulated an oversupply of hotels. Since last autumn, the country has of course been embroiled in major turmoil which inevitably has severely impacted hotel performance.
(This article features excerpts from the full report – please download it here)