‘Host in Georgia’ supports hotel development in Bakuriani
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Almost a million dollars in being invested in Georgia’s Bakuriani ski resort to develop a new boutique hotel.
Local company Noelgrand Ltd is the latest recipient of the ‘Host in Georgia’ program and receive state funding to build a small hotel in Bakuriani by January 2018.
In total $900,000 USD will be invested to build the new hotel, in which 41 people will be employed.
The role of 'Host in Georgia’ in this partnership was to co-finance the interest of the beneficiary's loan.
Over the next two years the Entrepreneurship Development Agency (Enterprise Georgia) of Georgia’s Ministry of Economy, which runs the ‘Host in Georgia’ program, will co-finance the new hotel project.
The scheme has already signed deals to co-fund eight new hotels, which are being built in Georgia’s regional areas to improve tourist infrastructure and develop the regional hospitality industry.
These eight hotels will offer more than 240 rooms and create jobs for about 190 people.
To qualify for the ‘Host in Georgia’ funding new hotels must have at least 10 rooms and be built in any region of Georgia except capital Tbilisi and in Black Sea resort town Batumi.
‘Host in Georgia’ is a sub-component of the ‘Produce in Georgia’ state program that was introduced in March 2016 to revive the country’s production industry and improve Georgia’s economic future.
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