Odesa Hotels See 34% Occupancy Growth in 2024 Amid Seasonal Trends

Odesa in 2024 showed annual growth, but most of it occurred in the summer months, so although the positive trend indicates a recovery in demand, only seasonal trends determined it.

Such conclusions were made by analysts of the Hotel Matrix project.

According to experts, the occupancy rate of the city's hotels increased by 34% in 2024. According to analysts, its growth in the summer months was the main driver of change in 2024. However, compared to other regions, Odesa still has low occupancy rates in the off-season months.

The average daily rate in 2024 reached UAH 2,177 per day, up from UAH 1,987 in 2023, or 9.5% more. Revenue per available room last year amounted to UAH 759, up from UAH 522 in 2023, or 45.4%.

"In 2024, hotels in Odesa recovered demand, but only seasonal trends determine their performance. The greatest potential lies in increasing ADR (average daily rate) in the summer months to adapt to changing demand and ensure increased profits," analysts say.

According to Vkursi Market BI, a market analysis service,cited by Forbes Ukraine. There are 3,177 registered companies in Ukraine that are engaged in the hotel business and other temporary accommodation options, and this type of activity is their main one.

In 2024, the largest revenues were generated by metropolitan hotels. In total, they received UAH 28.1 billion. Business activity and business events are concentrated in Kyiv.

Next is Ivano-Frankivsk region, where a large number of recreational locations are concentrated. Hotels in this region generated UAH 5.1 billion in revenue.

Hotels in Lviv region earned UAH 4.9 billion, in Zakarpattia region - UAH 1.3 billion, and in Odesa region - UAH 939 million.

Кирило Бойко