SUSTAINABLE ORGANIC DEVELOPMENT
OF CONCEPTUAL SOLUTIONS

GORO Development was founded as a specialised development company to implement the hotel infrastructure of the large-scale recreational project GORO Mountain Resort — a world-class, year-round mountain resort in the Lviv Carpathians. The company is part of the OKKO Group. For this project, a team of the most experienced real estate professionals from OKKO Group’s development division was assembled, bringing proven expertise in residential, commercial, and infrastructure projects. The team also includes high-level experts in architecture, engineering, marketing, commerce, and project management.

GORO Development is not a traditional developer. We specialise in creating hotel projects that are immediately integrated into the holistic concept of GORO Mountain Resort. Unlike residential developers, who focus mainly on constructing buildings, GORO Development manages projects at every stage — from concept to hotel launch — including financial modelling, legal structuring, and investment programs. A key distinction is that we don’t just design architecture; we shape a lifestyle concept within hotel complexes. Our solutions are tailored to various guest scenarios, including families, couples, travellers, active tourists, and long-term visitors. This influences everything — from room planning to services, leisure areas, attractions, and design aesthetics. That is why GORO hotels do not compete with each other. Instead, they complement one another, creating diverse leisure options within a single resort. This forms a holistic proposition that appeals to a broad audience and ensures steady occupancy across all properties. Our goal is not simply to construct buildings, but to create a thriving hotel business in the mountains — one that meets the expectations of modern guests and delivers stable income for investors.

GORO Development has a comprehensive portfolio of hotel real estate within its flagship project, GORO Mountain Resort, located in the Lviv Carpathians. The master plan envisions 25 hotels with a total of 5,150 rooms, each featuring distinct concepts, leisure formats, and service scenarios tailored to different types of guests. The first phase comprises five hotel complexes, featuring nine hotels that total 1,100 rooms. Construction of the resort’s first hotel complex — ONDE Hotel — began in early 2025. It consists of three hotels with unique architectural concepts and will open the mountain part of the resort to its first guests and investors. Every hotel in GORO Development’s portfolio is a unique design product, integrated into the holistic concept of a year-round resort. Together, they ensure long-term value and stability of the investment model.

Private investors can participate in the creation of the large-scale, year-round mountain resort’s hotel infrastructure together with OKKO Group. OKKO Group applies an international investment model — Resort Hotel Rooms as Investment. This model enables investors to own an individual room in a designer hotel at the resort, with unified professional management, benefiting from both the growth in asset value and the operational income generated by the hotel business.

Private investors can rely on long-term growth in asset value over time, driven by three key factors. Primary capitalisation – growth in the room’s value from the start of construction until the hotel’s launch. Forecasted growth of primary capitalisation before hotel opening is up to 51.1%. Operational profit – a share of the income from renting out the room inventory after deducting operating expenses and the hotel operator’s commission. Operational profit is projected to reach up to 35% of the total room revenue. Secondary capitalisation – an increase in the value of an operating hotel business due to the growing popularity of the resort, higher occupancy rates, and strengthened reputation of the complex. Forecasted secondary capitalisation is up to 20% within the first 5 years of project operation. High occupancy will be ensured by the year-round resort format, which features attractions and services that maintain a steady visitor flow, thereby avoiding seasonal fluctuations. GORO Development supports investors at every stage, not only with asset management within the resort’s hotel business, but also with resale or reinvestment into upcoming hotel projects at the resort. The projected return is over 10% annually, based on conservative calculations and objective industry benchmarks, not on idealised scenarios.

GORO Development is responsible for creating hotel properties from concept and design to commissioning and integration into the resort’s operational system. All hotels at GORO Mountain Resort are managed by a single hotel operator, GORO Hospitality Group, which ensures a unified hospitality concept throughout the resort. This includes accommodation standards, leisure and wellness offerings, premium service levels, and recreation programs for guests from Ukraine and abroad. Thanks to centralised management, the hotels do not compete with each other but instead complement the overall guest experience, operating as a single resort with diverse leisure formats.

GORO Development has introduced an investor protection program through a mechanism of shared financial responsibility between the developer and the hotel operator. In the event of construction delays or low operational efficiency in the hotel business, the investor is guaranteed compensation payments. How it works: Construction stage: If the developer delays commissioning of the property for more than 6 months, starting from the 7th month, the investor receives compensation. The calculation is based on the SOFR rate, proportional to the base value of the property and the length of the delay. Operational stage: If the average hotel occupancy is below 25% for six consecutive months, starting from the 7th month, the investor begins receiving income, calculated at the SOFR rate from the replacement cost of the property. This model provides investors with an additional layer of financial protection, while also incentivising the developer to meet deadlines and the hotel operator to maintain effective management of the property. As a result, risks for investors are reduced, and the stability of the investment model is enhanced.