A 4 or 5 star hotel will be constructed on the spot where Shtastlivetza hotel stood until it demolition yesterday. The new hotel will be managed by the Kempinski chain. The project is ready and construction is likely to begin in the beginning of 2008.

Shtastlivetza was use as a hotel since 1983 and for decades it was one of the most visited places in surrounding areas of the capital.