09:03 22.05.2024

SENSAR Development intends to build five-star hotel, residential complex in Uzhgorod

3 min read

The development company SENSAR Development is preparing for implementation in Uzhgorod a dual project, which includes the five-star hotel The Five Hotel and the Smart Story residential complex, CEO and founder of the company Mark Marchenko said during the presentation of the project in Kyiv.

"Now every conscious business must take into account the realities of war and modernize in order to provide new opportunities for people and stimulate the development of the state. SENSAR Development introduces the Smart Line concept, which will be implemented in Uzhgorod. We offer to invest in a ready-made business; investors will receive a full cycle of development services – starting from the finished property and ending with trust management by the management company," Marchenko said.

The Five Hotel (61 Kapushanska Street) will have 16 floors, a total of 140 rooms of five types (Standard Special, Standart Plus, Superior, Insta Apartment). On the top, 16th, there will be a restaurant with a view, next to it there will be a children's room. In the basement there will be a 30 square meters swimming pool with a spa complex of 200 square meters. On the minus first floor there will be a conference room, next to it there will be an underground parking for 26 cars.

The residential part of the project will be located on the site nearby, the working name is the Smart Story residential complex. The 12-story building will have 100 apartments ranging from 32 to 67 square meters, commercial premises on the lower floors, underground parking.

As Marchenko told Interfax-Ukraine, the projects have already passed the examination, and a package of documents is being prepared for submission to the GIAG. The approximate volume of investment in the hotel part is UAH 500 million. Commissioning of The Five Hotel is scheduled for 2027.

The international management company Ribas Hotels Group will be responsible for the comprehensive management of The Five Hotel and the provision of services to guests.

"We give a ten-year payback forecast for hotels, recognizing that the first years can be reserved for establishing themselves in the market, making guests fall in love with them, attracting corporate clients and gradually increasing profits. Most of our hotels demonstrate annual profit growth. Therefore, in this project, the term of our management contract lasts ten years with an operational payback of 12%. The total rate of return of The Five Hotel is 16.9%," founder of the Ribas Hotels Group Artur Lupashko said.

Since 2018, SENSAR Development has been engaged in the construction of multi-apartment residential complexes, non-residential and commercial real estate. The company's development portfolio is 135,000 square meters, there are six projects at the construction stage.

Ribas Hotels Group, operating since 2014, is an international management company whose flagship service is the operational management of hotel and restaurant complexes. The company also provides services for concept development, design, support at all stages of project implementation, consulting and franchising for developers.

Its portfolio includes 55 hotels under management and construction, including five projects in Bali. The total room stock of the operator is more than 1,000 rooms.

The company is currently developing facilities in Poland, Montenegro, Austria, Switzerland, Germany, Georgia, Armenia, Italy and East Asian countries.