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M2 will Start a Construction of New Hotels in Tbilisi and Kutaisi

Developer company M2 is planning to build 3 hotels in Georgia. As general director, Irakli Burdiladze declared, American brand Ancor construction of 152 rooms hotel will be completed next year in November.

The second hotel will be located on Melikishvili 10. The company is now waiting for permission and after the approval; they will open the hotel in 18 months.  The third hotel construction is planned in Kutaisi. As Burdiladze explains, “Ancor” brand has 3 stars hotels.

“There is a high demand for 3 stars hotels from tourists, but there are not so many of them”.

There are many 4 or 5 stars hotels. Therefore, we want to invest money in something different which will be profitable for us. Investment costs in each hotels qill be 12-13 million USD.