Ribas Hotels Group signed an agreement on technical support and management of the income-generating cottage town

Ribas Hotels Group, Ukrainian national hotel operator, and cottage town «AGAT Resort & SPA» on 26 November 2021 successfully signed a Memorandum of Understanding on the implementation of partnership economic activities on the system and standardisation of hotel business and management of cottage town “AGAT Resort & SPA” after its commissioning.

Cottage town “AGAT Resort & SPA” is a new, unique project located in Mikulinich village (Ivano-Frankivsk region). It represents income housing. “Buying a house “AGAT Resort & SPA” is a profitable investment, which will allow not only to enjoy the Carpathians, but also to earn by renting the cottage to the hotel operator Ribas Hotels Group. The payback rate of one cottage in this town will be 8-9% per annum,” said Artur Lupashko, the founder of Ribas Hotels chain.

The project is realised by the construction company MBA DEVELOPMENT. The total area of a private house in it starts from 120 m2.

“Each house will have its own swimming pool, its own territory. It will be two-storey,, 2 bedrooms and a large kitchen-studio”, – said Max Bratko, cottage town “AGAT Resort&SPA”.

According to the agreement, cottage town “AGAT Resort & SPA” undertakes the following obligations in the project:

• to ensure that the object complies with the terms of the concluded contract, the project presented to the investor, general technical norms and urban planning regulations. Full responsibility for the quality and safety of the object;
• to build the cottages in accordance with the State Standards of Ukraine and the standards of the hotel chain of Ribas Hotels Group operator within the declared terms;
• to realise finishing works and furnishing of rooms and common areas, as well as engineering systems complying with the standards of the Ribas Hotels Group hotel chain;
• be responsible for the sale of apartments and customer support to investors.

In turn, Ribas Hotels Group undertakes the following commitments for the project:

• provide ongoing support, including professional development, management support and operational services throughout the construction and operation of the hotel;
• ensure compliance with hotel technology planning standards and requirements;
• oversee compliance with Ribas Hotels Group standards and requirements during the operation of the hotel.

The cottage town is currently under construction. Commissioning of all houses is planned for 2023. Commissioning of the first stage of construction is scheduled for August 2022.

Ribas Hotels Group has been operating on the market since 2014. Ribas Hotels Group has 26 properties under comprehensive management and exclusive booking. Six of which the company designed and built. They are city, beach and ski hotels. These are Wall Street Hotel by Ribas, Business Hotel Bossfor by Ribas (all in Odessa), Ribas Karpaty (Bukovel, Ivano-Frankivsk region), Richard by Ribas (Gribovka, Odessa region) and others. The total room stock of the operator is more than 1000 rooms.