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Home / Business / Lasha Papashvili to Invest about 35 million USD in Hotel Construction near Freedom Square in Tbilisi

Lasha Papashvili to Invest about 35 million USD in Hotel Construction near Freedom Square in Tbilisi

Businessman Lasha Papashvili plans to invest about 35 million USD in constructing a hotel near Freedom Square in Tbilisi.

The businessman told Business Course that the issue is of constructing a 4-star hotel of the world’s leading brand. The hotel will comprise with 170 suites. We will spend our own capital or draw resources from one of the financial institutions, Papashvili said.

“We are developing a 4-star hotel project jointly with the world’s leading architectural bureau. The hotel will be constructed in 200 meters from Freedom Square. This is a Prime Location and we will attract the leading hotel brand. The hotel will comprise about 150-170 suites and investment portfolio will constitute 30-35 million USD. We will use our own capital or draw funds from international financial institutions”, Lasha Papashvili told Business Course.