A new hotel, The Five Hotel, will be built by SENSAR Development in Uzhhorod. Ribas Hotels Group, an international management company, will handle the comprehensive management of apartments and provide services to guests.
The Five Hotel — is a new multi-storey hotel in the center of Uzhhorod (61 Kapushanska St.) with 140 rooms. It will house a panoramic restaurant on the 16th floor and a 200 m2 spa complex with a 30 m2 swimming pool and a massage room. The hotel will also provide a comfortable lobby lounge, a children's playroom near the restaurant, and an underground parking lot for 26 car parking spaces. The holel is expected to be commissioned in 2027.
Uzhhorod is attractive to investors because the city is actually the gateway to Ukraine across three borders located nearby. In addition, the city blends different histories and cultures. Uzhhorod is an exciting tourist attraction because of its exceptional natural environment and urban sprawl. Uzhhorod can be definitely referred to as a city where international business will continue to develop.
“In our opinion, every conscious business must now recognize the realities of war and modernize to provide new opportunities for people and stimulate the development of this country. That's why, in this extremely difficult time, SENSAR Development is introducing a unique concept called Smart Line, which will be implemented in Uzhhorod. With this concept, we are looking to encompass the symbiosis of tasks — to develop the tourism business in Ukraine, improve the level of domestic tourism and enable investors to receive a full range of development services, from a finished real estate property to the trust management of a management company”, says Mark Marchenko, CEO and founder of SENSAR Development.
Visualized: The Five Hotel (Uzhgorod).
“We estimate a 10-year payback period for hotels, keeping in mind you set aside the first few years to make a name for your business in the market, get your guests to fall in love with your brand, attract corporate clients and gradually increase profits. Most of our hotels show an increase in profits every year. It’s not a decrease as they become outdated; on the contrary, it’s an increase as they become more famous. So in this project, the term of our management agreement is for 10 years, with a ROI of 12%. The overall rate of return for The Five Hotel is 16.9%”, says Artur Lupashko, the founder of the Ribas Hotels Group.
For more information
Since 2018, SENSAR Development has been engaged in the construction of apartment complexes, non-residential and commercial real estate. The company's development portfolio includes 135,000 m2, and 46,785 m2 of real estate is currently under construction.
The Ribas Hotels Group hotel operator will handle the comprehensive management of apartments and provide services to guests. It is a full-service international management company with 10 years of experience, whose flagship service is hotel management. The company’s portfolio includes 55 hotels under management and construction, including 5 projects in Bali.
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