According to President Volodymyr Zelenskyj, aid workers from Ukraine, the USA, and the UK were at the hotel at the time of the attack, writes AFP.
"They survived", writes Zelenskyj on social media.
The rocket hit a five-story building that began to burn after the direct hit, according to local authorities. The rescue service has worked on the site throughout the night and searched for people in the rubble. The death toll is feared to rise.
Kryvyj Rih in central Ukraine is Zelenskyj's hometown. After the attack late on Wednesday, the president is calling for continued pressure on Russia, without pause.
A man in his 30s was killed simultaneously in a Russian drone attack on warehouse facilities in Sumy in northern Ukraine during the night, according to Ukrainian authorities. The man was probably working as a security guard, according to Ukraine's national police.
The major city of Kharkiv in northeastern Ukraine was also attacked during the night. A multi-family house was hit by a downed drone, resulting in a fire. No one was physically injured.