Business
Posted: 4 days ago

Lasha Papashvili: Expenses of Hotel HILTON Exceed the Income at this Stage

The first hotel of the Hilton brand is operating despite the pandemic in Tbilisi, however, in the current situation, the costs exceed the income.

Lasha Papashvili, head of the Redix Group, told Business Partner that the hotel, which opened two months ago, received tourists, but that the number was halved compared to the company's estimate.

"We can not stop working, it will be more expensive than working. Therefore, we will not consider temporary closure,"Papashvili said.

Let us remind you, the Hilton Garden inn. was built by businessman Lasha Papashvili on Chavchavadze Avenue with the co-financing of the EBRD. The investment cost of the project is $ 40 million. The construction of a 14-storey hotel with 165 rooms is designed for the middle segment and business travelers.

The hotel under the Hilton brand already operates in Batumi, which opened in 2015. The second Hilton brand hotel will be opened in the former building of the Agricultural Hotel in Tbilisi. Businessman David Kodua plans to build a hotel under the same brand on Melikishvili Avenue in Tbilisi.