In the middle of the first decade of the 21st century, the Ukraine appeared to be the promised land for hotel development. A satellite of the Soviet block, this country that is bigger than France or Germany wanted to free itself from 80 years of oppression to enter the dance of the great European nations. Money did not appear to be a problem, even if its origin sometimes smelled of sulfur and fortunes that had been built up quickly on the spoils of communism. The financial crisis of 2008 quickly reminded many promoters of the reality of statistics, while ever nit-picky bureaucracy did the rest to slow the hotel explosion brought on by the announcement of the organization of the UEFA Euro 2012. Today the market is unfurling; projects –at least the ones that survived– are rising up; and the administration is speeding up development by occasionally taking action. The land of Cockaigne, even when beaten hard, should bear some fruit..