The hotel operator Ribas Hotels Group and the developer EffectBud have signed a memorandum of understanding for the joint construction of the Pavza Village & SPA cottage village consisting of 68 houses in the village of Mykulychyn, Ivano-Frankivsk region, as reported by the press service of Ribas Hotels Group.
According to the company's data, the total area of ​​the project is 4.3 thousand square meters, and the village will contain 68 cottages with terraces and yards, as well as accompanying infrastructure: a restaurant, cafe, pool, spa, cinema, activity and relaxation areas, and parking.
The cottage village is planned to be put into operation in the third quarter of 2025. The project's profitability is estimated at 16%.
According to the memorandum, EffectBud is responsible for construction according to Ribas Hotels Group standards, finishing works, sales, and client support. On the other hand, the hotel operator controls all stages of construction, creates a creative and architectural concept, design and equipment of the facility, and will also oversee the management of the village after its commissioning.
Ribas Hotels Group, operating since 2014, is an international management company, whose flagship service is the operational management of hotel and restaurant complexes. The company also provides services for concept development, design, support at all stages of project implementation, consulting, and franchising for developers.
The company manages and exclusively reserves 28 urban, beach, and ski hotels under the brands Ribas, Ribas Hotels, Ribas Rooms, WOL home + hotel, and Mandra Glampings. The operator's total number of rooms exceeds 1000.
Currently, the company is developing properties in Poland, Montenegro, Austria, Switzerland, Germany, Georgia, Armenia, Italy, and countries in East Asia.
The developer EffectBud has been in the construction market since 2006 and started implementing its own projects in the Ivano-Frankivsk region in 2014. Currently, six cottage villages with 156 houses are under construction, with 72 houses already in operation.
