Arthur Lupashko Invests 150 Million UAH in Hotel Near Odessa

Ribas Hotels Group is investing approximately 150 million UAH in a new hotel complex on the Karolino-Buhaz spit in the Odessa region. The project includes 66 rooms, a restaurant with 135 seats, a bar, a swimming pool, and a closed parking area. The expected payback period for the investment is about eight years. The company acquired an unfinished hotel complex, which allows for a quicker project launch. The average construction cost will be 75,000 to 100,000 UAH per square meter. The project is designed for three summer months, with the main revenue expected in June, July, and August. The projected average ADR for the summer season is 8,938 UAH, with an average occupancy rate of 69%. An important aspect of the business model will be the restaurant direction, which will provide additional income. Karolino-Buhaz is located 45-60 minutes from Odessa and has advantages such as wide beaches and low building density. Ribas Hotels Group opted for a quick acquisition of an existing building instead of constructing a new facility, which will allow for a faster hotel launch.

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