Real estate and property developer company M2 is set  to build three new  hotels in Georgia. According to  the company director general Irakli Burdiladze, Ancor 152- room hotel will be completed next November.

 

The second hotel will be located on Melikishvili Street in Tbilisi. The company is now waiting for permission while  the hotel will open in 18 months.  The third hotel is planned to be built in Kutaisi.

 

 

There is a lack of 3-star hotels in Georgia and we’ve decided to invest in something different which will be profitable for us. Investment costs in each hotels is  $ 12-13 million.

Source:commersant.ge