About Civil.ge
Eng | Geo | Rus
Last updated: 23:29 - 30 May.'16
RSS
Mobile
Twitter
Facebook
Kempinski to Manage Hotel in Tbilisi
Civil Georgia, Tbilisi / 9 Dec.'06 / 19:19

Kempinski Hotels, teamed up with London-based Capital Vostok Ltd. marked on December 9 the launch of the development of a new five-star hotel in downtown Tbilisi.
 
“Five major hotel brands have decided to invest in Georgia in the last two years, and we can say that all the major brands are now in Georgia, which means that Georgia and Tbilisi has become well-established on the world map, it means more tourists,” President Saakashvili said at the presentation of the project in Tbilisi on December 9.

He said that next year Georgia will see a construction boom that will require three times more workers, “which means that we will have a huge deficit of human resources in this sector.” Saakashvili added that Sheraton will launch construction of a hotel in Adjara. The presentation of this project is planned for December 10 in Batumi.

President Saakashvili delivered a similar speech exactly a month ago when he attended a ceremony marking launch of the construction of a new five-star hotel by the InterContinental Hotels Group in downtown Tbilisi, less than two kilometers away from the venue where the Kempinski hotel will be located.

The 200-room hotel, which will be designed by Krier-Kohl Architects, is projected to be constructed by 2010. Reports say that USD 50 million is planned to be invested in the project.

The building on Rustaveli Avenue was initially designed to house the Ministry of Foreign Affairs. Some reconstruction works were done for this purpose, but eventually the building was handed over to Capital Vostok Ltd – a company which operates in Georgia through its subsidiary real estate investment firm Aword.

Aword said that Capital Vostok Ltd is a British-Swiss company which was set up by City Capital Management to develop a hotel and class-A office space network in the Black Sea region.

Michael Tippin, a founder of Capital Vostok, was at the presentation in Tbilisi. He is also a founder and chief executive of Toronto-based Tippin Corporation, which according to the Canadian daily Globe and Mail, announced this summer its plans to sell its portfolio of properties in Toronto to invest in Eastern Europe.

Latest News
30 May.'16 23:29
U.S. Diplomat Urges Govt to Bring Kortskheli Violence Perpetrators to Account
This kind of political violence “can only do damage” to electoral environment, Ambassador Kelly said.
30 May.'16 20:43
Ivanishvili Gears Up to Campaign for GDDG
He vowed to use all of his resources to prevent UNM from “turning the clock back.”
30 May.'16 11:46
April GDP Growth 4.3% - Preliminary Data
Real GD grew 2.8% in the first four months of this year.
29 May.'16 23:53
Slovak President Visits Georgia
Slovak President Andrej Kiska is paying an official visit to Georgia on May 29-June 2.
28 May.'16 11:55
Venice Commission Opinion on Georgia’s Controversial Bill on Constitutional Court
Proposed increase of quorum is “excessive” and should be removed, CoE’s advisory body said.
28 May.'16 10:31
Gali IPRM Meetings Resume, After a Break of Four Years
Khurcha fatal shooting topped the agenda of the meeting on May 27.
27 May.'16 17:39
MPs Debate Constitutional Ban of Same-Sex Marriage
It remains unclear when, or if the bill will be put on vote.
26 May.'16 20:27
Tskhinvali Postpones Referendum on Joining Russia to 2017
Breakaway region’s leader was proposing holding of referendum this summer.
26 May.'16 17:53
Georgia Marks Independence Day
Georgian, U.S., UK troops fresh from joint drills marched in ceremony marking Independence Day.
25 May.'16 16:09
UNM Boycotts Parliament Sittings in Protest Over Kortskheli Violence
UNM MPs said they will not attend sessions unless perpetrators of attack are held accountable.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
72