‘50 Real Estates for Your Hotel’:
New 4 mln GEL hotel will be built in Kutaisi

A new 50-room hotel will be built in the western Georgian city of Kutaisi as part of the state programme ‘50 Real Estates for Your Hotel’.

About 4 million GEL (about $1.38m/€1.23m) will be invested in the hotel, which will be built in the centre of Kutaisi, at 2 David Aghmashenebeli Avenue.

New Georgian company Kutaisi Inn will be responsible for the construction of the new hotel in Kutaisi. The National Agency of State Property announced that Kutaisi Inn was sold public property land and depreciated buildings via state auction for 430,000 GEL (about $148,552/€133,077). 

Under the terms of privatisation, Kutaisi Inn is obliged to build a 50-room hotel in 42 months.

In total 50 people will be employed in the hotel.

The aim of the project 50 Real Estates for Your Hotel is to support tourism development in Georgia and to give investors the opportunity to build modern hotel complexes in tourist-active zones, using existing infrastructure.

The National Agency of State Property said that 24 buildings have already been sold within the ‘50 Real Estates for Your Hotel’ programme and the state budget has already gained more than 58 million GEL (about $20.03m/€17.94m).