The requested news item does not exist. Please return to News
Kiev, August 02, 2017 – JLL presents the H1 2017 results of the quality hotel market* in Kiev, Ukraine.
“Ukrainian capital keeps delivering positive news with the gradual recovery of the quality hotel market. In May 2017, during the Eurovision Song Contest, quality hotels occupancy approached 55%, compared to 41% in May 2016. Notwithstanding the fact that June result was a little bit more modest, it still exceeded the last year’s number: 46% against 37%.” –
Tatiana Veller, Head of JLL Hotels & Hospitality Group, Russia & CIS, says.
Especially notable is the substantial ADR and RevPAR improvement in USD: ADR in May displayed a 3% growth, amounting to USD 158, while RevPAR, due to the occupancy improvement, skyrocketed by 39%, to USD 86. In June USD ADR took a slight cut (by 1 % vs. last year, down to USD 150) but RevPAR still increased by 22%.
In general, quality hotel market average occupancy in H1 2017 went up to 46%.
According to Tatiana Veller, “This is highest occupancy in the period since 2013. The supply four years ago was considerably lower, and over 48% of room stock in Kiev was occupied between January and June. Since then, Hilton with 262 rooms was put into operation, and gave the modest-size hotel market in the Ukrainian capital a significant boost”.
H1 Kiev quality hotel market results in USDSource: STR Global, JLL
While ADR in H1 exhibited slight growth in UAH (by 2.4%, up to almost UAH 4,000) and decline in USD (by 2.6%, down to USD 147), RevPAR increased in both currencies (by 26.2% in local currency, reaching UAH 2,700 and by 20% in hard currency, to USD 67). This is the highest H1 hard currency RevPAR in Kiev since 2013, when it equaled USD 103.
Q1 Kiev quality hotel market results in local currency vs. UAH-USD exchange rateSource: STR Global, JLL, National bank of Ukraine
“If political situation in the country remains stable, gradual recovery of Kiev hotels’ operational performance will continue. On the back of this trend, we observe the growing confidence among investors, as well as hotel management companies and international brands. First of all, it reflected in a number of new hotels entering the market. About 664 internationally branded rooms in different segments are planned to come into operation by the end of the year – Mercure Congress Kiev (Accor) with 160 rooms, Park Inn Troitskaya (Rezidor) with 192 rooms and Aloft Kiev (Marriott/Starwood) with 312 rooms. New branded supply will intensify competition and might lead to adjustment of the main hotel market performance indices in 2017-2018.” – Tatiana Veller adds.
*All statistics on operational results are sourced from STR Global with segments based on JLL configurations
About JLLJLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and on behalf of its clients managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006-2017 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, 2016, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.
Head of PR
+7 495 737 8000