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Investment and development company GORO Development, part of the OKKO Group (Ukraine), has announced interim results for the sale of its first hotel project within GORO Mountain Resort near Slavske in the Lviv region.
As of early August, the company has sold 103 rooms — more than half of the total inventory in the first hotel of the ONDE Hotel complex. The open investment launch took place in March 2025.
Construction is currently underway on the first and largest of the three hotels in the ONDE complex, which will have a total of 429 rooms, including 197 in the first hotel. Completion of construction and opening of the complex are scheduled for summer 2028.
GORO Development is implementing the international business model "resort hotel rooms as investment", in which private investors purchase individual rooms under unified professional management, with the potential for asset value appreciation and profit from the hotel’s operational activities.
“Our hotels attract investors from a wide range of industries — IT, agriculture, manufacturing, finance, real estate. Over 90% of our investors join the project with a long-term perspective, meaning they intend to remain involved after construction is completed in order to receive stable income from hotel operations,”says Volodymyr Harazd, CEO of GORO Development.
As of early August 2025, more than 50 private investors have invested in the project. The largest share comes from the IT and communications sector (25%). In second place are investors from agriculture, real estate and construction, as well as the financial sector (10% each). Third place is shared by defence tech and manufacturing (6.7% each). Energy and the automotive industry each account for 5%, followed by law (4%), and retail, education, and logistics (3.3% each).
By investor geography, Kyiv and Lviv lead (33.3% each), followed by Dnipro (5.6%), Zhytomyr and Vinnytsia (3.7% each). The project is also attracting active interest from Ukrainians living abroad.
In the first four months after sales began, room prices in GORO Mountain Resort increased by 5.7%, which corresponds to an annualized growth rate of 17.1%. According to GORO Development analytics, the expected return over the entire sales period could exceed 57%, higher than the initially projected capital appreciation of 51%. The forecasted average annual yield of a hotel room after the complex opens is 10%.
To achieve this level of accuracy in financial forecasting, GORO Development has, for the first time in Ukraine’s hotel real estate market, implemented an automated dynamic pricing system. While in most projects prices are set manually and adjusted quarterly, we have completely abandoned manual control in favor of artificial intelligence. The system responds instantly to changes in demand and helps achieve targeted profitability metrics for investors.
At the initial stage of sales, the highest demand was for studio rooms as well as one-bedroom suites — a versatile solution for passive income and personal leisure. These two formats accounted for the majority of sales, which drove their prices up by 14%, 2.5 times higher than the average growth rate across the complex.
At the current stage, demand is beginning to shift toward larger formats such as executive suites. This category has not yet shown significant price growth, which creates maximum capitalization potential for investors entering the project now.
Each hotel within the ONDE complex has its own unique theme and functional concept: the first — entertainment (cinema, rooftop restaurant with fireplaces, pub with live music); the second — business (coworking space, conference hall, meeting rooms, restaurant); the third — relaxation (large SPA complex, swimming pools).
95% of the rooms have panoramic views, thanks to the hotels’ integration into the mountain terrain, significantly boosting profitability. The room inventory of each hotel differs in design and furnishings, with no duplicates. Additional infrastructure includes 309 parking spaces, a pet hotel, a fitness and yoga center, boutiques, a beauty salon, a barbershop, and restaurants serving world cuisines.
OKKO Group began construction of the large-scale recreational project GORO Mountain Resort in October 2024. The first development phase, covering 127 hectares, will feature 9 hotels with 1,100 rooms. In addition to five hotel complexes, the resort will offer 10 ski slopes totaling 13 km in length with 50 hectares of snowmaking, a 2.8 km gondola lift, and two 1.5 km chairlifts, enabling up to 10,000 skiers to be on the slopes simultaneously.
The sale of the resort’s hotel real estate and the attraction of investment are handled by GORO Development, founded in 2021. The company is responsible for architectural concepts, construction, functional and recreational facilities, as well as attracting investment into the hotel business. Its philosophy is based on the principles of organic mountain development: low building density, harmonious integration of architecture into the natural environment, consideration of the landscape, and the use of natural materials. The architecture should complement the natural space rather than alter it — nature must always remain the main protagonist.
agency