Partnership Fund to Repeatedly Auction Borjomi-Likani Hotel for $30 million
The Partnership Fund of Georgia has announced a repeated auction for sales of Borjomi-Likani hotel.
The Partnership Fund offers the potential investors to lease the hotel assets for a period of 10 years and then to buy off these assets. The starting minimum price of Borjomi-Likani hotel was 30,052,326 USD.
Borjomi Likani hotel possesses a land of 156600m2 and hotel’s buildings and structures. The Partnership Fund will maintain a land of 234425m2 in ownership for further development. The Fund is ready to discuss investment projects in case of interest. Noteworthy that the hotel territory borders the state-owned Romanovs Palace and a historical park on 8 hectares, where the biggest museum complex will be arranged after restoration-rehabilitation works.
The public auction is scheduled for September 4, 2020, at the Partnership Fund’s office.
We remind you that Partnership Fund took over a 100% stake in the Borjomi Likani hotel. The first public auction was held on December 6, 2019, and the starting price was 37 565 408 USD, but the auction failed because no applications were submitted.