Posted: 2 weeks ago

Valeri Chekheria: We Suspend Hospitality Projects

The Adjara Group Holding has temporarily suspended the ongoing projects in the hospitality sector amid the pandemic, Valeri Chekheria, Head of the Group’s Board of Directors, noted.

The hospitality sector has been almost collapsed because of the pandemic and the field has lost its previous relevance. Therefore, we have decided to temporarily stop hospitality projects, Chekheria said. It is very difficult to foresee the autumn-winter realities from the current positions – when we will open, what sort of new tourism directions we will have, when flights will be resumed and when the pre-pandemic tourism boom will be regained.

We do not want to make specific investments without returns and proceeds”, Valeri Chekheria noted. The Group has plans for opening Rooms hotels in Abastumani and Batumi and these projects are being developed, Chekheria added. “We will activate our efforts for opening a Rooms hotel in Abastumani. We believe that tourism locations such as Abastumani and other ones will become the most popular and in-demand locations after the pandemic.

Consequently, we will get ready for the tourism season to meet it with new hotels. The Group plans to open a new hotel in Abastumani under the brand of Rooms. We cannot name specific dates, but we are working with our partners on raising the required funds and we hope we will launch the project implementation in the near future. The project’s total value is about $12 million.”, Valeri Chekheria noted.