‘Rooms Hotel Kokhta’ to be constructed in Bakuriani
By Keti Donadze
Monday, December 24
Georgian Reconstruction & Development Company (GRDC) and Adjara Group are planning to build hotel ‘Rooms Hotel Kokhta’ with the support of TBC Bank and European Bank for Reconstruction and Development (EBRD).
The agreement was signed between the parties at the hotel ‘Room’ on December 19 which encompasses construction of the 92-room hotel and 70 apartments in the territory of the new ski area on the Kokhta mountain.
While GRDC will implement construction of additional residential apartments in the next phase, ’Rooms Hotel Kokhta’ will make a significant contribution in the tourism development of the region with its distinctive architecture and design.
The hotel will serve guests throughout all four seasons. The first phase of the resort development includes a 17 009 sq.m complex, of which 5 000 sq.m will cover apartments, while 12,000 sq.m will be used for the hotel. O
The total cost of the project amounts to $10 million $ 5.4 million will be financed by TBC Bank and EBRD, with a loan issued under the RFS program, while the rest will be covered by GRDC and Adjara Group's capital.
"With the GRDC and the support of EBRD and TBC Bank, another Rooms Hotel will be opened in Georgia, which will offer various concepts and designs to our guests. By implementing this project, Georgia will take another step closer to the world's leading ski resort standards,” said Valeri Chekheria, Executive Director of Adjara Group.
“I am glad that we have the opportunity to finance project building which is created in partnership with two leading companies in the field GRDC and ‘Adjara Group’, we are sure that, this investment will additionally motivate to investors to implement interesting project of similar types in this region,” said TBC Bank's Deputy Director General, Giorgi Tkhelidze.
"We are happy to continue our cooperation with the EBRD's three partner companies, TBC Bank, Adjara Group and GRDC, to develop the real estate and tourism sectors in Georgia,” said Bruno Balvanera, Director of EBRD in the Caucasus.
The interior of the hotel is underway and will be completed in the spring of 2019.
Bakuriani’s main ski areas include Mitarbi village and Kokhta Mountain.
