Lviv Hotel project envisages provision of long-term financing for the construction of a new four-star Novotel-branded hotel in Lviv, Ukraine. The financial close of this operation is expected in the second half of 2023.

The total project costs are estimated at EUR 14 million, out of which EUR 8 million will be financed by BSTDB. The Bank’s loan has a maturity of 10 years and will support the project until a steady recovery of hotel market in Ukraine.

The Bank’s participation in this project will support further development of Lviv’s tourism potential, one of the key sectors of the regional economy, with broad positive effects for the development of the city. This project will promote BSTDB role as a financial institution focusing on long-term development of Ukraine through regional investments and support of sectors driving the local business.