French company Compagnie de Vichy might consult about developing Tskaltubo Spa Resort

A state-owned shareholding company Partnership Fund has completed working on the concept of developing Tskaltubo Spa Resort together with an international consulting company Kohl and Partner. Implementation of Tskaltubo Spa Resort project requires $ 750 million USD investments. The Partnership Fund is looking for the potential investor who will invest in this project. French company Compagnie de Vichy might consult about how develop the Tskaltubo spa resort. 

Tskaltubo is a spa resort in west-central Georgia. It is famous for its radon-carbonate mineral springs, whose natural temperature enables the water to be used without preliminary heating. Tskaltubo was especially popular in the Soviet era, attracting around 125,000 visitors a year.

French company Compagnie de Vichy is one of the companies who has already expressed its interest towards Tskaltubo resort development project. The CEO of the Parnetship Fund Irakli Kovzanadze has met the President of Compagnie de Vichy Jan-Luck Suarez and introduced him a concept of the resort’s development and project details.

On the other hand, Suarez offered the Partnership Fund to share his experience and knowledge in the sphere of resort development. The sides agreed to farther their cooperation.

Founded in 1862, the Compagnie de Vichy, owner of the Vichy Spa Hotel Les Celestinsis, is one of the oldest businesses in France. Known as the Queen of water towns, Vichy is a spa resort of 50 000 inhabitants situated in the centre of France, 360 kilometres south of Paris.

"Tskaltubo has huge potential of becoming one of the most attractive resorts of the World, according to the research that we made together with Kohl and Partner. It is easy to go to Tskaltubo as the railway reaches the resort as well as there is Kutaisi international airport nearby. There are 23 hotels in Tskaltubo, built in the post Soviet Union era, which are closed now. Only one of them operates nowadays. The project implementation will take about 15-20 years. There will be employed more than five thousand refugees which now live in Tskaltubo,” said Irakli Kovzanadze.

According to the project, Tskaltubo resort rehabilitation will include restoring the thermal bathes, rehabilitation of state-owned hotels, building new hotels equipped by modern technologies and medical equipment, building the children's entertainment centers and water attractions, developing the restaurants, opening trade centers and cultivating the tropical gardens.

The architectural projects have not been designed yet but the conception of how to develop each hotel is ready to be introduced to the potential investors. The Partnership Fund is ready to implement the investments together with the investors.