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Wissol could Transfer Lomsia Hotel to Foreign Brand

Wissol continues to sell non-core assets. The company’s managing director Vasil Khorava confirmed commersant.ge that the sale of “Lomsia” hotel in Akhaltsikhe is on the agenda and in a case of a favorable offer, “Wissol” will alienate it.

Khorava touches on the issue of  alienation of the FC “Torpedo” and says the project is in progress. As for the construction of a hotel on site of “Abkhazia” hotel, at this stage the project is being developed. “I confirm that the hotel and sports club in the non-profile business and it is quite normal to hand over to the owner who will manage them  even  better”, – Khorava notes.

He says  the company thinks that it is better to pass  the hotel into the hands of the  international brand which will manage the hotel better. “Wissol Group” Akhaltsikhe opened “Lomsia” hotel in Akhaltsikhe  in August 2012. “Lomsia” consists of 63 rooms and can accommodate  150 guests. Wissol Group invested several million GEL in the project. Up to 60 local residents were employed in the hotel.

Soso Pkhakadze, Chairman of the Supervisory Board of JSC Wissol Petroleum Georgia, exclusively confirmed in a conversation with radio “Commersant” a few weeks ago that he had refused to fund  the FC ”Kutaisi – Torpedo”.

Pkhakadze named relations with large financial institutions as a reason. According to  Pkhakadze, at the request of these institutions, the company must deal directly with their business because the company’s non-profile business is not  acceptable for them. The company received the base of the club as investment commitments from the state for a symbolic price of 1 GEL  in 2010.