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Billion-Dollar Resort Under Construction in the Carpathian Mountains

by Roman Cheplyk
Monday, February 17, 2025
2 MIN
Billion-Dollar Resort Under Construction in the Carpathian Mountains

A major new resort project has kicked off in Ukraine’s Carpathian Mountains

Over the next 15 years, developers plan to build 25 hotels with more than 5,000 rooms, spanning a 127-hectare plot near the village of Volosyanka in the Lviv region. Ski lifts and slopes will also form part of the comprehensive, year-round tourism complex.


1. Project Scale and Investment

  • Total Cost: At least $1.45 billion, as announced by the OKKO Group.
  • Financing:
    - One-third will come from OKKO’s own funds and loans.
    - The remaining two-thirds will be sourced from domestic and international investors.
  • International Expertise: A team of Austrian experts is consulting on design and planning, focusing on creating a top-tier alpine resort experience.

2. Location and Geography

  • Carpathian Setting:
    - Situated about 50 km from the Polish border.
    - Mountain heights in the area reach ~1,200 meters, suitable for skiing and other mountain sports.
  • Volosyanka, Lviv Region:
    - Proximity to EU borders is expected to boost cross-border tourism.
    - The region has largely avoided Russian airstrikes, sustaining interest from investors and travelers alike.

3. Development Timeline and Vision

  • 15-Year Horizon:
    - Phased construction of 25 hotels and full infrastructure—ski lifts, slopes, and year-round recreational facilities.
  • Strategic Importance:
    - Vasyl Danylyak, Construction Manager, highlights the first hotel complex as the cornerstone of an “international year-round resort” concept.
    - The project aims to establish a four-season destination appealing to domestic and international tourists.

4. Broader Context

  • Tourism and Economic Benefits:
    - Potential to create jobs, promote regional development, and attract foreign investment in Western Ukraine.
  • Border Proximity:
    - Enhances accessibility for visitors from Poland and the broader EU, aligning with Ukraine’s larger economic and European integration goals.

By combining significant private investment, international expertise, and a prime Carpathian location, the new resort is set to become one of Ukraine’s largest tourism ventures—offering a modern, all-season alpine experience that taps into the natural beauty and strategic location of the country’s western region.

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