Hotel operator Ribas Hotels Group and developer EffectBud entered into a memorandum on the joint construction of the cottage town Pavza Village & SPA for 68 houses in the village of Mykulychyn (Ivano-Frankivsk region), the press service of Ribas Hotels Group reported.

According to the company, the total area of the project is 4,300 square meters, the town will include 68 cottages with terraces and courtyards, as well as related infrastructure: restaurant, cafe, swimming pool, SPA, cinema, activity and recreation areas, as well as parking.

The cottage community is scheduled to be put into operation in the third quarter of 2025. The project's profitability is estimated at 16%.

According to the concluded memorandum, EffectBud is responsible for construction in accordance with Ribas Hotels Group standards, for finishing work, sales and customer support. In turn, the hotel operator controls all stages of construction, creates a creative and architectural concept, design and equipment of the facility, and will also manage the town after 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 is currently developing facilities in Poland, Montenegro, Austria, Switzerland, Germany, Georgia, Armenia, Italy and East Asian countries.

The developer EffectBud has been on the construction market since 2006, and in 2014 began implementing its own projects in Ivano-Frankivsk region. Today, six cottage communities with 156 houses are under construction, 72 houses have been put into operation.