Hotel real estate in the Carpathians is reaching new heights. How three phases, a single standard, and the right partners are shaping a new-generation investment product
FORREST Trinity Resort — a project where answers to key investor questions are thought through before sales begin: who manages it, what is the financial model, how are my rights protected, and is there demand for this property in summer and winter?
Bukovel has long ceased to be exclusively a ski resort. According to market analysts, tourist traffic reaches 2.5 million people per year, and occupancy rates for high-quality hotels during peak season are 100%. In summer and during the off-season, this figure remains at 67–73%.
This means that a properly positioned hotel product in Bukovel doesn’t sit idle—it generates revenue.
But there’s a catch: not every project is the same. High-quality hotels with full-scale management, consistent service, and actual occupancy throughout the year are few and far between. Most offerings on the market are apartment complexes where operational efficiency depends on the decisions of each individual owner. FORREST Trinity Resort is built on a different logic.
Most resort projects are geared toward a single audience. Forrest is built differently.
Phase One — a space for those seeking peace and rejuvenation. Surrounded by forest, a wellness center, and a rooftop pool. For those tired of the city who just want to unwind.
Phase Two—conference rooms, meeting spaces, a paddle tennis court, and a networking area. For corporate groups, small forums, and teams combining work with relaxation. The MICE segment in Ukraine is underrated—and this is an opportunity.
Phase Three—a children’s area, a large spa, a climbing wall, an outdoor pool, and the panoramic restaurant FORREST Sky View—the resort’s signature dining destination, located 48 meters above ground, offering a 360° panorama of the Carpathian mountain landscapes. For those who want their children to have something to do while their parents relax.
Three distinct target audiences mean three different reasons to visit—and three independent booking streams. If one segment slows down, the other two continue to perform. This directly impacts occupancy stability and, consequently, the monthly payment to the owner.
At FORREST Trinity Resort, the model is fundamentally different. All 461+ units, without exception, are transferred to Maestro Hotel Management—a condition stipulated in the contract. The owner handles nothing: no bookings, no check-ins, and no maintenance of the rooms. Maestro is responsible for the entire cycle. A guest on Booking sees a fully-fledged resort property with consistent ratings—a higher average check and stable payments to every owner.
Maestro Hotel Management—a management company with 10 years of experience in the hospitality industry. Crucially, they joined the project not after construction, but at the very start. Together with the Perspektyva Group team, they shaped the room layouts, service standards, and financial model. When a management company participates in the creation of a hotel, the rooms are designed to fit the operational model—not the other way around. This ensures a different level of readiness on opening day.
The financial model is transparent: 80% of rental income goes to the owner, and 20% to the management company based on EBITDA. Operating costs are calculated in advance, and a profitability calculator is available before signing.
The unit owner has the right to stay at the hotel up to 30 days a year during the low season and up to 10 days during the high season—with full hotel service. On these days, no revenue is generated from the room, but the vacation is yours.
Perspektyva Group is a company with 30 years of experience and 17 completed projects. Over $300 million in attracted investments. FORREST Trinity Resort is the company’s first hotel project, which is why it has been approached with particular care: architecture, materials, engineering, and partners—no compromises.
The first phase is being built using the developer’s own funds. This means that the pace of construction does not depend on sales velocity. The first phase will be completed regardless of the number of units sold today. For investors, this eliminates one of the key risks.
Commissioning — Q4 2028. The second and third phases are being built in parallel — completion in 2029. The site is active, and construction is underway.
The quality of the architecture directly influences the average rental rate. Architecture by Filimonov & Kashirina, winners of architectural awards. A stone and glass facade, seamlessly integrated into the landscape. This is not just another hotel in the mountains—it is a property with its own distinct character.
Interiors where natural aesthetics blend with premium comfort — Makhno Studio, Serhii Makhno’s studio. Guests choose a hotel that is beautiful. Beauty is a driver of occupancy.
FORREST Trinity Resort has direct access to the 5G trail—one of Bukovel’s best panoramic trails. Ski-in/ski-out—a WOW advantage that saves time and underscores the project’s status.
Surrounded by forest, a waterfall, and a mountain river. A promenade that creates the atmosphere of a European resort.
One of the key fears of investors in Ukraine is: what if the developer doesn’t deliver? FORREST Trinity Resort operates under the MON model—a special property right to the future property. What this means: — the agreement is registered in the State Register — double sales are impossible; — there is a refund mechanism if the completion is delayed by more than 6 months; — changes to the property without the investor’s consent are impossible; — assignment (sale of a unit before completion) — unrestricted, without penalties.
Minimum unit size — 26 m². Price starting at $4,500/m².
Projected return on management: up to 12% per annum in currency.
Asset appreciation from the start of sales to opening: projected 19–20%. An investor who enters at the start receives an asset valued at ~$5,400–5,500/m² by the time of commissioning—even before the hotel’s first day of operation.
FORREST Trinity Resort stands out for its combination of rare factors: Product: three phases for three target audiences, 5G connectivity, architecture by Filimonov & Kashirina, interiors by Makhno Studio. Management: 100% of units managed by Maestro. The management company joined at the design stage. Developer: Perspektyva Group, 30 years of experience, 17 projects. Phase 1 is funded with the developer’s own capital. Security: Ministry of Education and Science approval, state registry, transparent model, free transferability.
Together, this is an asset backed by a system, not just a promise.
FORREST Trinity Resort. Three worlds—one asset. A unique resort ecosystem created for living, relaxation, and capital growth.
More details on investment terms and profitability calculations: +380 (777) 999-999
BUKOVEL, FORREST Trinity Resort, INVESTMENT, PROFITABILITY, REAL ESTATE, VACATION
The development company ARHA Group has received a certificate of commissioning for the AMA Family Resort, a resort complex with a total area of 10,000 square meters in the village of Polianytsia (Ivano-Frankivsk region), according to a press release from the hotel operator Ribas Hotels Group.
As the operator told the agency “Interfax-Ukraine,” AMA Family Resort will become the sixth Carpathian property managed by Ribas Hotels Group.
“Preparations are currently underway to formalize property rights for investors, after which the company will begin work on preparing the property for opening,” the operator noted.
Preparations for operations include building a team, setting up sales and booking systems, launching marketing channels, implementing operational standards, and verifying the property’s technical readiness and service processes.
According to Ribas Hotels Group, the complex’s housing stock consists of two-story cottages and apartments of various sizes: one-bedroom units ranging from 25 to 44 square meters, two-bedroom units of 83 square meters, and three-bedroom units exceeding 100 square meters.
The infrastructure of AMA Family Resort includes a restaurant and lounge areas, a spa, terraces and viewing platforms, a children’s area with a movie theater, cycling infrastructure, parking, and a seasonal ski bus.
Ribas Hotels Group is an international full-cycle management company and hotel business ecosystem that encompasses the entire process from site selection, design, and construction to management, franchising, and investment. The company’s portfolio includes 56 projects in the launch, design, or management phases, including seven in Bali, as well as in Poland and Turkey.
The company develops 3-, 4-, and 5-star city and resort hotels under the brands Ribas Hotels, Ribas Rooms, WOL home + hotel, and Mandra Moments. The operator’s total room inventory exceeds 1,000 rooms, with 300,000 guests in its database and over 1,300 investors in its projects.
The Silpo chain of stores will open its first supermarket in the Bukovel ski resort in the Ivano-Frankivsk region, according to the Ukrainian Council of Shopping Centers.
The store will open in the village of Polianytsia (1 Shchivky tract). The opening date is not yet known, but preparations for the launch are already underway, as evidenced by the retailer’s job vacancies posted on job search websites.
Previously, Silpo only offered delivery services in this region.
Silpo is one of the largest supermarket chains in Ukraine, founded in 1998. It is part of the Fozzy Group, a trade and industrial group. As of August 2025, the chain has 309 supermarkets in 62 cities.
Perfect Group has begun construction of the Velmy apart-hotel in Polianytsia, Ivano-Frankivsk region, the company’s press service told Interfax-Ukraine.
According to Oleksiy Koval, project manager at Perfect Group, the goal of the Velmy project is to change the standards of recreation and investment in the region.
“We create a space for emotions and memories, where every detail works for the comfort of our guests. In addition, it is a reliable investment with a projected payback of eight to nine years, which makes the project attractive to investors. We believe that Velmy will become a landmark in Bukovel,” Koval said.
The Velmy apart-hotel is located in Bukovel next to Lake Molodist and ski lifts #14 and #22. It has 492 apartments ranging from 26 to 80 square meters. The complex is positioned as a business class, with a panoramic swimming pool, Ski-in/Ski-out, SPA center, gym, restaurants, conference hall and children’s center among the offered infrastructure.
Investors are offered refurbished apartments, while transactions are formalized in accordance with the new legislation on future real estate objects (BON) with registration of special property rights (SPR) in state registers.
The first phase is expected to be commissioned in the third quarter of 2026. Currently, the price per square meter starts from UAH 167.9 thousand. There is an installment plan with a down payment of 50%. The tourist season at Velmy is expected to be year-round, with a likely rental yield of up to 12% per annum and a payback period of eight to nine years.
Founded in 1991, Perfect Group has commissioned 42 buildings since 2010, with 21 buildings under construction.
Ukrainian hotel occupancy in May 2024 increased in Kyiv and Bukovel, while it decreased in Lviv and Odesa, Olga Mishchenko, Project Manager of Hotel Matrix, told Interfax-Ukraine.
“The occupancy of Ukrainian hotels in the first quarter of 2024 increased compared to the same period last year in Kyiv to 39% (+86%), in Bukovel – to 46% (by 13%), decreased in Lviv to 49% (by 14%) and in Odesa – to 23% (- 8%). In Kyiv, there is a positive trend in all indicators – the average daily rate (ADR) increased by 40% to UAH 2689, RevPAR (revenue per available room per day) by 158% to UAH 1041,” she said during the Hospitality Connect conference.
According to Hotel Matrix data, the average daily rate (ADR) for this period also increased in Bukovel – UAH 4190 (+13%), in Lviv – UAH 2729 (+7.15%), and decreased in Odesa – UAH 2126 (-6%).
RevPAR (revenue per available room per day) in May 2014 in Bukovel amounted to 1941 UAH (+30%), in Lviv – 1338 UAH (-8%), in Odesa – 490 UAH (-14%).
According to Hotel Matrix, as of June 2024, there are about 4 thousand three- to five-star hotels in Ukraine with a total of 110 thousand rooms. The estimated market volume as of May 2024 for accommodation services is UAH 2 billion 364.6 million.
Hotel Matrix is a web-based hotel analytics product developed by experts from Poland and Ukraine. It was launched in May 2020. Today, more than 200 hotels in Ukraine, Poland and Kazakhstan are connected to Hotel Matrix.
In the evening of March 12, at a meeting of the regional commission of the State Commission on Manmade Disaster, Emergency Response, it was decided to put under quarantine the tourist complex Bukovel and restrict entry to the territory of Polianytsia territorial community, which only local residents or people who work there can freely move through, the local newspaper Halka reports.
“It was decided to terminate the activities of the Bukovel resort. Tourists will not be able to visit it. If you are a tourist, then you must understand that you are not going to Bukovel – you are going to the red quarantine zone, a high-risk zone. We are making such a forced decision, and probably not the last. After all, the red zone, in which we live, is growing, and we do not see a trend towards its decrease,” said head of Ivano-Frankivsk Regional State Administration Andriy Boichuk.
The new rules will take effect from 24:00 on March 13.
“As of today, 51 administrative protocols have been drawn up in Bukovel tourist complex: for lift operators, ski equipment rental points. Additional checkpoints will be introduced on the territory of Polianytska territorial community. Only local residents or those who have a place of work in this settlement will be able to move freely, subject to quarantine requirements,” said Volodymyr Holubosh, head of the Main Department of the National Police in Ivano-Frankivsk region.
