InterContinental Hotels Group is planning to build “the best five-star hotel in the region” in downtown Tbilisi within the next two years, President Saakashvili said at a presentation of the project on November 9.
InterContinental-Tbilisi will be built where the Ministry of Agriculture is currently located on Kostava street.
InterContinental plans to invest USD 50 million in construction of 155-room hotel. Construction is expected to launch in March, 2007.
“Several months ago I attended a signing ceremony here for the launch of the construction of a Hyatt five-star hotel in Tbilisi. Hyatt has come before InterContinental in this respect, but I offer you [InterContinental] to outstrip Hyatt in finishing the construction process,” Saakashvili said.
InterContinental Hotels Group PLC of the United Kingdom is the world's largest hotel group according to number of rooms.