A three-start hotel Park Inn will open in the former building of Georgian Post in Tbilisi.

Rezidor Hotel Group vice President Punit Chalat and Silk Rod Group supervisory board chairman Giorgi Ramishvili concluded a protocol on intensions.

Under the protocol, the hotel will be handed over to Rezidor Hotel Group in management. The project is an estimated 20 million USD. Silk Road Group has drawn the funds with aid of TBC Bank. The construction works will start in January 2013.

At the same time, Tbilisi City Hall will reconstruct the Rose Revolution square. The project calls for opening commercial spaces, the ropeway to connect the square with the Mtatsminda Park.

Under the plan, cafes and pavilions will be organized in the north part of the square, as well as a parking place, an open swimming pool and a commercial center.

The Construction works will be carried out by Austrian company Dopperlmayr. The new ropeway will be served by 21 gondolas and each one will hold 8 passengers.

The ropeways installment works will end in March 2013.

Source:www.Georgian Business Week