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Ukrainian hotels need two years to overcome COVID-19 losses
Journal Staff Report

KYIV, Oct 5 – Ukrainian hotel operators will need at least two years to restore pre-crisis indicators, while a number of facilities are likely to be closed, Director of the appraisal and consulting department at Colliers International (Ukraine) Natalia Chystiakova has said.

"No one can predict how the situation in the hotel market will develop. Large hoteliers in the country shrug their shoulders. They live in a stressful situation. They are trying to get at least break even. But if the situation does not stabilize and quarantine restrictions are in effect in the future, hotels will be closed, because they will not be able to run at a deficit for a long time. Hoteliers' forecasts are the following: such a difficult situation is likely to last until next summer. In my opinion, with low business activity and the absence of major events, it will take about two years for the market to recover," Chystiakova told Interfax-Ukraine.




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