CBW has been informed that Silk Road Group decided not to build Park Inn hotel in the former building of the Georgian Post.
According to the company’s representative, Radisson Telegraph hotel will be located on Rustaveli 31 and can be considered as Radisson’s expansion in Tbilisi. According to Silk Road, a change in the project caused changes in the interior design due to Radisson’s higher requirements.
Explaining their decision to settle on Radisson, Silk Road representatives say that in today’s Georgian market, there is a demand for Radisson hotels. Shareholders add that they considered it inappropriate to open a lower segment hotel on Rustaveli Avenue.
The company plans to finish its work on the design by the end of the year.The tender will be announced soon after and in January-February of next year active construction of the hotel will begin. The project’s investment volume has increased, but the company is still negotiating funding at this stage.
Silk Road Business Center signed an agreement with the Rezidor Hotel Group regarding a 3-star hotel construction in the former building of the Georgian Post in 2013. The project cost $22 million, the amount was attracted through VTB Bank. Park Inn hotel was due to open in the third quarter of 2015.