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Kiev, Ukraine, 2009/07/01 - PKF Hotelexperts, an internationally recognised market leader in the field of hotel consulting, organized the roundtable discussion “The future of hotel development in Ukraine” - DEOL-Partners.com.
The core idea of the round table was to invite developers, investors, financial institution’s and the media representatives to discuss the possible ways of cooperation amidst the turbulent time of economic downturn. The rountable participators were seeking answers to the following questions:
• How to resurrect hotel development in Ukraine;
• Which projects are dead, which will be completed;
• Financing of hotels in Ukraine – a mission impossible?
The roundtable participators see a solution in encouraging the foreign investments by creating Ukraine’s positive image and coordinating the appropriate efforts both at the national and regional levels. Seeing new hotels being built, upgrading the infrastructure, streamlining the permitting and licensing process will add value to the projected schemes and create a solid ground for investment.
“I’m sure the participators will benefit from such discussion and gain additional knowledge. Investing during the global crisis makes sense as a high-risk nature of the projects generates greater yields. Let alone low construction costs and a few competitors alive. As the hotel development process lasts 2 to 3 years, the construction of Kiev Airport City by DEOL Partners accurately fits into the period of hosting EURO 2012. It takes every chance to become a model of much-needed infrastructure project development and Ukraine’s business card for EURO 2012 and far beyond”, Sergiy Ivannikov, DEOL Partners Project Manager, points out.
The roundtable attendants considered a wide range of problems to be addressed by the hotel developers before the site is finally commissioned. PKF Hotelexperts, a consultant for Kiev Airport City, defined the trends peculiar to Ukraine’s hospitality sector. The matter of raising project finance was in the spotlight of the whole discussion. Still EURO 2012 is a great opportunity for Ukraine to boost hotel development, which is definitely underdeveloped. The most promising growth is connected with either redevelopment of obsolete sites or construction of affordable two- and three-star hotels.
DEOL Partners is one of the leading development companies on Ukraine’s real estate market. The Company’s main areas of business include:
• Investment management;
• Development management;
• Commercial real estate research and analytics.
DEOL Partners (deol-partners.com) manages investment projects on Ukraine’s market and develops commercial real estate projects alone or in partnership with world’s leading investors. Our most visible projects are: Kiev Airport City, Mall of Ukraine, Leonardo Business Center, Senator Apartments, etc.
DEOL Partners is a member of ULI (Urban Lands Institute), ICSC (International Council of Shopping Centers).