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Kyiv, September 12, 2025 - The CEO of GORO Development, Volodymyr Garazd, took part in the Forbes Ukraine Industrial Forum, where he presented the strategic goals of the all-season resort GORO Mountain Resort. In a conversation with Forbes founder and editor-in-chief Volodymyr Fedorin, he focused on what lies behind the numbers and investments in the project.
“A resort is very different from a regular city hotel. Guests only see what is on the surface. But behind it there are warehouses, logistics, and supplies delivered in advance – all the things needed to ensure high-quality service. It is a multi-layered system that guests do not notice but that creates steady demand for goods and services from Ukrainian producers. It is a true fortress in the mountains,” said Volodymyr Garazd.
According to him, $1.5 billion of investments in the resort will be a strong driver for Ukraine’s economy. The company plans to purchase as many construction materials, furniture, textiles, and food products as possible from local manufacturers.
After launch, the resort expects an annual flow of 500,000 guests, with a target of 1 million tourists within a few years. The long-term goal is to attract 3 million visitors every year. The first phase of the resort will serve 5,000 guests per day, creating significant demand for Ukrainian-made products.
A key advantage of GORO Mountain Resort will be centralized management – one investor, one developer, and one operator. This ensures integrity and efficiency, unlike many European resorts where ownership is fragmented. The systematic approach will also guarantee comfort: every point of the resort will be within 150 steps. The strategy is to compete with leading resorts in Austria, Czechia, and Switzerland.
The business model also involves private investors, for whom hotel room investments are a tool to diversify assets. The management company handles all operations, giving investors full convenience, inheritance rights, and long-term participation in the project’s growth. Liquidity is supported by limited supply – only 1,200 apartments, which creates exclusivity and keeps investment value high.
OKKO Group started construction of the large-scale recreational project in October 2024. The first phase, covering 127 hectares, will include 9 hotels with 1,100 rooms. Along with five hotel complexes, the plan includes 10 ski slopes with a total length of 13 km and 50 hectares of snowmaking, a 2.8 km gondola lift, and two 1.5 km chairlifts. This will allow 10,000 skiers to enjoy the slopes at the same time.
The investment and development company GORO Development, founded in 2021, manages hotel real estate sales and fundraising. It is responsible for architectural concepts, construction, recreational facilities, and attracting investment in the hotel business. The company’s philosophy is based on organic development of mountain areas: low-density construction, harmony between architecture and nature, use of natural materials, and respect for the landscape. Architecture is designed to complement nature, not change it, with nature always remaining the central element.
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