Sheraton Kiev Olympiysky Hotel will open by the start of the EURO 2012 European Football Championship and will be the most expensive five-star hotel in Kyiv, Vice President and Regional Director for East and Central Europe at Starwood Hotels and Resorts Thomas Willms has said.

He said that the technical opening of the hotel was scheduled for late May 2012.

Willms confirmed that a five-star category would be assigned to the hotel. He noted that the price for rooms in the hotel had not been determined yet, but it would be higher than that in the current five-star hotels in Kyiv, for example, InterContinental.

At the same time, the hotel will be designed, first and foremost, for business guests and visitors who will attend sporting events. The hotel's occupancy rate is planned to be 70-75%.

Willms said that a hotel management contract with the owner of the building - Construction Investment Company TM - was signed only on October 5, 2011, although the negotiations had been conducted since February 2011. He declined to name the exact duration of the contract, but confirmed that the issue concerned about 25 years.

He also said that the company had already held talks with UEFA regarding the hotel's participation in EURO 2012 events, but a respective contract has yet to be signed.

As reported, the first hotel of the Starwood Hotels and Resorts network in Ukraine - Four Points by Sheraton Zaporozhye - was opened in Zaporizhzhia on September 29.