Our projects demonstrate the potential for successful investment in Ukraine - Chairman of Hartwall Invest

- Your family invested in Leopolis Hotel over 17 years ago. Payback periods in hospitality usually take about 20 years. Are you satisfied with the financial results, and how close is the property to breaking even?

Yes, hotel projects have long payback periods—20 to 30 years. We have almost returned the initial investment. Financially, the best years were 2012–2016, and the most difficult was the COVID year of 2020; during the war, we conducted a full renovation. As for 2025 results, they are the best in the last five years. Our occupancy last year was 53%, while the five-star segment in Lviv averaged 45%, and the city overall was at 58%. At the same time, we have the most expensive rooms among city hotels—the average daily rate (ADR) excluding VAT is 125 euros, nearly double the Lviv average (total revenue was about 2 million euros in 2025, a 40% increase in hryvnia). Our project is an example of long-term investment focused on people. The hotel’s performance indirectly shows that our core guests—foreign citizens—have already stopped being afraid to visit Ukraine.

- The renovation took place during the war in 2022–2023. How much was invested, and how will the hotel develop further?

Renovation had already begun when the war started. We did not stop it; the hotel remained operational, hosting guests while simultaneously responding to wartime challenges. It was actually inspiring to see how corporate culture and team spirit made us stronger. As investors, we fully trusted the local team, which allowed for flexible and rapid decision-making. Regarding energy resilience, we initially bought a small generator for critical functions but later realized we needed something more powerful and purchased it. Total investment in the