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Partnership Fund teams up with Merrydow Development Holdings LTD to launch Hyatt Regency project in Tbilisi |
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 Partnership Fund starts to construct Hyatt Regency hotel to be located
in the building of the ex-Ministry of Justice on Rustaveli Avenue in
Tbilisi. The project envisions a thorough rehabilitation and
fortification of the facility in a way to maintain the historic façade.
This five star international chain hotel will offer 170 rooms,
conference halls, four restaurants, a spa and fitness centers. "For the
Partnership Fund this is not the first time to attract international
brands to Georgia. The Fund has already implemented several projects in
the tourism sector, such as a five star Rixos Borjomi hotel, Royal
Batoni in Kvareli and Gino Welness in Akhaltsikhe,” Irakli Kovzanadze,
CEO of the partnership Fund said. According to him, the preparation
works for the hotel were already launched. Partnership Fund’s partner in
this project is Merrydow Development Holdings LTD. The project cost is
estimated at $ 65 m. The construction works for the hotel will be
completed in 2018. Rustaveli Property is a daughter company of Merrydow
Development Holdings LTD, which is responsible for development of the
hotel. The chain of Hyatt Regency has around 150 hotels, which are
located in Europe, Africa, Eastern and South-Western Asia.
Source:fund.ge |
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July 02, 2015
