Kiev is to have its first five-star Sofitel hotel before the end of 2010 in a $90m (£45.8m) project.
XXI Century Investments, a Cyprus-based developer and investment company, and hotel group Accor have signed a partnership agreement to develop a Sofitel in the former Soviet state.
Lev Partskhaladze, head of XXI Century's supervisory council, said: "This long-term partnership with a reliable company will allow us to develop a hotel chain in Ukraine in the future. We plan to make our own contribution in the preparation of Ukrainian cities for Euro 2012."
The project will kick off in the second half of the year and occupy a 0.4-hectare site at the intersection of Luteranska and Kruhlouniversytetska streets.
The complex will take up 27,000sq m and will have 270 rooms, 11 conference halls, two restaurants, two bars, a fitness club and a parking lot.
Seifert Architects, a company specialising in hotel and resort design, are overseeing the look of the Sofitel.
XXI Century listed on the London Stock Exchange in December 2005 raising $139m (£70.7m).
By Jim Glenn