Hotels - Ukraine | Statista Market Forecast

The Hotels market in Ukraine is projected to earn a revenue of US$200.40m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 7.78%, resulting in a projected market volume of US$291.40m by 2029.
By 2029, the number of users in the Hotels market is expected to reach 3.88m users.
In 2024, the user penetration is 6.5% and this is expected to increase to 10.1% by 2029.
The average revenue per user (ARPU) is expected to be US$81.42.
By 2029, 86% of the total revenue generated in the Hotels market in Ukraine will be through online sales.
It is interesting to note that in global comparison, United States is expected to generate the most revenue (US$111bn in 2024) in the Hotels market.
Ukraine's hotel market is experiencing growth due to an increase in tourism and foreign investment.

Definition:

The Hotels market includes hotels and professionally-run guest houses. These accommodations can be booked directly via the providers website, through a tour operator, a travel agency, an online travel agency (OTA), or by telephone.

Additional Information:

The main performance indicators of the Hotels market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of guests. Each user is only counted once per year. Well-known providers are Hotels.com, trivago, and Booking.com.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

For further information on the data displayed, refer to the info button right next to each box.

Booked directly via the providers website, through a tour operator, an online travel agency (OTA), a travel agency or by telephone

Private accommodation and holiday flats, private room and accommodation rentals (e.g. Airbnb)

The Hotels market in Ukraine has been experiencing significant growth and development in recent years.

Customer preferences: Travelers in Ukraine are increasingly looking for unique and authentic experiences when choosing accommodation options. They are drawn to hotels that offer a blend of modern amenities and traditional charm. Additionally, there is a growing demand for eco-friendly and sustainable practices in the hospitality industry.

Trends in the market: One notable trend in the Ukrainian Hotels market is the rise of boutique hotels and guesthouses. These smaller, independent establishments cater to the preferences of travelers seeking personalized services and a more intimate atmosphere. Another trend is the increasing use of technology in hotels, with many establishments implementing online booking systems and digital check-in processes to enhance customer convenience.

Local special circumstances: The ongoing political and economic situation in Ukraine has had an impact on the Hotels market. Despite challenges, the country has seen a steady increase in international tourism, particularly in cities like Kyiv and Lviv. This has led to a growing number of hotel developments to accommodate the influx of visitors.

Underlying macroeconomic factors: The growth of the Hotels market in Ukraine can be attributed to several macroeconomic factors. The country's improving infrastructure, including new transportation links and renovated historical sites, has made it more accessible to tourists. Additionally, government initiatives to promote tourism and foreign investment have helped boost the hospitality sector. Overall, the combination of evolving customer preferences, market trends, local circumstances, and macroeconomic factors has contributed to the positive trajectory of the Hotels market in Ukraine.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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