Ribas Hotels Group Invests 150 Million UAH in Hotel on Karolino-Buhaz Spit

Ribas Hotels Group has acquired a hotel on the Karolino-Buhaz spit in the Odessa region and is investing approximately 150 million UAH in its reconstruction. The work is scheduled to be completed by the summer season of 2027. The acquisition agreement was finalized in June 2026, and the reconstruction will last about nine months. After the renovation, the hotel will be named Ribas Bugaz and will offer 66 rooms, a restaurant, a beach club, and its own beach area. The investments are being made from the company's own funds. The hotel will be managed by Ribas Hotels Management after its opening. The company's founder, Arthur Lupashko, noted that they believe in the recovery of tourism in the region despite current challenges. There is a high demand for recreation in the Odessa region: 69.8% of surveyed Ukrainians chose this destination for their summer vacation. Bookings in the region have increased by 14% compared to last year, and the average room rate has risen by 27%. However, only 18% of announced hotel projects in the region have been implemented, while the rest remain frozen due to high risks.

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