Bukovel hotel market: leadership due to stable ski demand
8 April 14:21
Despite the general decline in demand in the summer season, Bukovel demonstrates stable occupancy in the winter months, which is indicative of the strength of the brand and ski tourism in the region. This is stated in the latest research of the hotel analytics service Hotel Matrix, informs
According to the study, the key performance indicators of Bukovel hotels for 2024 are as follows:
1. Occupancy is the first of the three key KPIs of a hotel, which shows the percentage of rooms sold in relation to those available for sale for a certain period. In 2024, it was 56%, compared to 57% in 2023, i.e. minus 1%)
2. ADR (average daily rate) is another important indicator that provides information about the pricing policy applied by the hotel. In 2024, it reached UAH 5,129, compared to UAH 4,123 in 2023, plus 24%.
3. RevPAR (revenue per available room) is one of the most common financial indicators that helps to assess how effective a hotel is. Last year, this income amounted to UAH 2,907, compared to UAH 2,243 in 2023, plus 29%.
What do the following indicators show?
Firstly, as noted in the Hotel Matrix study, this is evidence of the stability of ski demand: the hotel market demonstrates stability in the ski segment with slight fluctuations in occupancy, but with obvious changes in summer demand.
According to Hotel Matrix experts, the main focus of the sales strategy for 2025 is to maintain customer loyalty in the winter season and strengthen the strategy for the summer period.
Secondly, the 24% increase in the average daily rate in 2024 with stable occupancy indicates a successful adjustment of the tariff policy and a focus on more profitable segments. This confirms the strategy of increasing the cost against the background of stable demand, which is the right step in the current environment.
Thirdly, the 29% increase in revenue per available room reflects an effective revenue optimization policy. The increase in this indicator, despite the decline in demand in the summer, demonstrates high efficiency in the use of available resources.
According to Hotel Matrix, Bukovel hotels remained stable in 2024 due to strong positions in the winter segment, but there is a decline in demand in the summer, which requires a more thorough strategy for the year to maintain leadership in 2025.
As a reminder, Hotel Matrix analysts have already researched the Kyiv hotel market and assessed the state of affairs in the Lviv hotel industry, and a review of Odesa hotels has also been announced.
Bukovel resort enjoys stable attention of investors
By 2026, various builders and developers intend to implement more than 40 new hotel investment projects in Ukraine. Most of them will be in the western regions.
The Bukovel area remains the epicenter of investment attractiveness for business, just like in the pre-war period. For example, Perspectiva Group is planning to announce a large-scale project in this region. According to Oleksandr Didyk, the company’s investment project manager, Bukovel has long ceased to be a seasonal tourism destination.
“It is now an all-season destination. In addition, Bukovel is becoming a kind of cultural and business hackathon, where innovative business models are being created non-stop. The return on investment in apartments today averages 10-15 percent per year. The full return on investment is 8-10 years,” the expert notes.
The resort’s attendance in 2024 reached 2.5 million tourists, and this is a source of motivation for businesses to continue investing in Bukovel.
