Posted: 1 month ago

Block Group Enters the Hospitality Sector - Investing $ 180 Million

Investment company Block Group is starting to invest in the hospitality sector. The company plans to implement several projects in the field with an investment cost of $ 180 million.

Hotels Radisson and Golden Tulip Design Tbilisi, a multifunctional complex on Kazbegi Avenue and Vatel Business School - the company plans to enter the country in the field of hospitality with these projects.

Speaking to BM.GE, Tornike Janashvili, CEO of Block Group, explains that at this stage the implementation of these projects has already begun and the group will implement not only hotel but also educational projects for the development of the hospital sector in Georgia.

"Our group is planning an important project in the field of education, academic, international standard education in the field of tourism and hospitality. In particular, together with the Georgian National University (SEU), with the support of the French Embassy and the French Chamber of Commerce, we will open a branch of the prestigious French business school - "Vatel". Vatel Hotels and Tourism Management Business School is the first in the international ranking in this area. It has opened 35 universities on 4 continents of the world.

This is what Georgia needs very much today, because tourism in the country is growing faster than the training of professionals. It is important that such a recognized brand as Vatel Business School enters Georgia and we will have specialists with international qualifications in this field, which will have a positive impact on the labor market. I am sure that many young people from neighboring countries will come to Georgia to study here, ”said Tornike Janashvili.

According to him, the investment company Block Group plans to open an international brand Radisson hotel in Tbilisi by 2023 with an investment of $ 25 million, and another hotel of the international brand Golden Tulip Design Tbilisi will be opened in Tbilisi in the spring of 2022 with an investment of $ 15 million. In addition, the company "Orbi Group" is launching a large-scale project on the real estate market on Kazbegi Avenue - a multifunctional complex, which will house an international brand hotel, 5 restaurants, spas, indoor and outdoor pools, the largest conference and banquet spaces in Georgia. The investment cost of the project is $ 140 million.

For reference: Investment company Block Group has been operating since 1993 in various fields: healthcare, logistics, construction, real estate, energy, etc.