Investment and development company GORO Development, part of the OKKO group of companies, has sold more than 50% of the rooms in its first hotel project at the GORO Mountain Resort near Slavske in the Lviv region, the project’s press service told Interfax-Ukraine.
It is specified that 103 of the 197 rooms of the first hotel of the ONDE Hotel complex, investment in which was launched in March 2025, have been sold. The ONDE complex will consist of three hotels with a total of 429 rooms, with construction completion and launch scheduled for summer 2028.
GORO Development is implementing an international business model called “resort hotel rooms as investment.” Private investors purchase individual rooms with unified professional management, the possibility of asset capitalization growth, and profits from the hotel’s operating activities, according to the press release.
“We have investors from a wide range of sectors: IT, agriculture, manufacturing, finance, and real estate. Over 90% of our investors are entering the project with a view to long-term participation, i.e., they plan to remain in it after construction is completed in order to receive a stable income from the hotel’s operations,” said GORO Development CEO Volodymyr Garazd, as quoted in the press release.
The company specified that as of early August 2025, more than 50 private investors had chosen the project: a quarter of them are representatives of the IT and communications sector, 10% are investors from agriculture, real estate, and construction, the financial sector, 6.7% are from defense tech and manufacturing, 5% are from the energy and automotive industries, 4% are from law, and 3.3% are from retail, education, and logistics.
In terms of geographical origin, Kyiv and Lviv lead the way (33.3% each), followed by Dnipro (5.6%), Zhytomyr and Vinnytsia (3.7% each). There is also active interest in the project from Ukrainians living abroad.
In the first four months after the start of sales, the cost of rooms at GORO Mountain Resort increased by 5.7%, which corresponds to an annual rate of 17.1%. At the initial stage, one-room apartments and rooms with a separate bedroom were in the highest demand. These formats accounted for the majority of sales, resulting in a 14% increase in their price, which is 2.5 times higher than the average increase for the complex. At the current stage, demand is beginning to shift towards larger formats such as executive suites.
According to GORO Development’s analytics, the expected return on investment for the entire implementation period may exceed 57%, with a projected average return on a hotel room after the complex is launched at 10% per annum.
OKKO Group began construction of the large-scale GORO Mountain Resort recreation project in October 2024.
The total area of the GORO Mountain Resort project is almost 1,200 hectares.
In the first phase, covering an area of 127 hectares, nine hotels with 1,100 rooms will be built with a developed recreational infrastructure: spa areas, swimming pools, restaurants, children’s and business spaces. The total investment in the first phase of the hotels is $235 million. Construction is currently underway on the first ONDE complex, each of whose three hotels will have its own theme and functional content: entertainment, business, and relaxation.
Additional infrastructure includes 309 parking spaces, a hotel for animals, a fitness and yoga center, boutiques, a beauty salon, a barbershop, and restaurants serving national cuisines from around the world.
The first phase also includes the construction of 10 ski slopes with a total length of 13 km and 50 hectares of snowmaking facilities, the installation of the longest gondola lift (2.8 km) and two modern chairlifts with a length of 1.5 km.
The resort’s hotel real estate is being developed and investments are being attracted by the investment and development company GORO Development, founded in 2021. It is responsible for the development of architectural concepts, construction, functional and recreational content, as well as attracting investments in the hotel business.
OKKO Group is the sole owner, main investor, master developer, builder, and operator of GORO Mountain Resort to ensure the harmonious development and comprehensive concept of the all-season recreational project. To create an international format, OKKO Group has brought in world-class Austrian experts: PKF Hospitality (investment analysis and concept), ILF Group (master plan and ski infrastructure), and Doppelmayr/Garaventa Gruppe (design of the lift and cable car system).
