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Intercontinental-Hotel

Hotel Intercontinental To Open in Georgia

Opening of hotel InterContinental is planned late 2016 or early 2017, – representative of Adjara Group Hospitability has declared about it to GBC.

According to him, repair works are being carried and also design details are to be agreed with the hotel management operator, however 8-9 months are necessary for finishing the project after the agreement.

He declares, that $6-7 million is mastered from the investment sum, which is a credit of Bank of Georgia, while they should take additional loan from European Bank for Reconstruction and Development (EBRD) at the next stage.

To remind, total investment volume of the project is $53 million. Adjara Group Hospitability, Bank of Georgia and EBRD have signed loan agreement of $24 million. Adjara Group Hospitability includes several famous hotels “Rooms Tbilisi” and “Rooms Kazbegi”, as well as “Holyday Inn”.