First hotel within ‘Host in Georgia’ to open in Bakuriani

The first hotel built within the new state program ‘Host in Georgia' will open in Georgia’s iconic Bakuriani ski resort.

The new hotel is due to open this December and will be built to high standards and offer guests a comfortable environment to stay.

Local company Toka Ltd is responsible for building the new hotel and will be the first business to benefit from the new ‘Host in Georgia’ scheme.

Over the next two years the Entrepreneurship Development Agency (Enterprise Georgia) of Georgia’s Ministry of Economy will co-finance the new hotel project together with Toka Ltd, who took a bank loan to cover their share of the costs.

Part of the new program means the Entrepreneurship Development Agency will pay the interest of Toka Ltd’s loan for the first two years while the company itself will only pay the amount it borrowed to build the new hotel in Bakuriani - $270,000 USD.

Dozens of people will be involved in the construction of the project while 15 people will be employed in the new hotel when it opens.

Last year the Government of Georgia added the ‘Host in Georgia’ sub-component to its ‘Produce in Georgia’ state program, which was established in mid-2014 to revive the country’s production industry and improve Georgia’s economic future.

The ‘Host in Georgia’ encouraged regional entrepreneurs to build new hotels and develop the hospitality industry in Georgia’s diverse regions.

Within this sub-program, the state will co-finance the business projects of entrepreneurs who want to build a new hotel in any region of Georgia except capital Tbilisi and Black Sea resort town Batumi.

Entrepreneurs will also be free to expand existing hotels or bring foreign brands into the Georgian market as a franchise.