About Civil.ge
Eng | Geo | Rus
Last updated: 01:56 - 19 Apr.'15
 
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
19 Apr.'15 01:56
Georgian Parliament Speaker to Visit Ukraine
Parliamentary delegation will visit Kiev on April 19-21.
18 Apr.'15 14:40
Bill Criminalizing ‘Calls for Violent Actions’ Worries Rights Groups
Although revised, the bill still poses threat to freedom of expression, rights groups say.
17 Apr.'15 17:09
Bill Against Involvement with Illegal Armed Groups Abroad Discussed
The bill was expected to be voted on Friday, but was delayed because of thwarted session.
17 Apr.'15 16:43
UNM’s Protest over Detention of Ex-SWAT Commander Thwarts Parliament Session
Parliament failed to open session as UNM MPs refused to undergo registration.
16 Apr.'15 16:52
Remittances Down by 22.8% in Q1’15
Money transfers from Russia were down by 43.6% y/y in the first quarter.
16 Apr.'15 11:16
Georgian President Visits Latvia
Margvelashvili will meet his Latvian counterpart, as well as PM and parliament speaker.
15 Apr.'15 14:37
Tbilisi, Moscow Agree on Expanding Direct Regular Flights
Agreement reached as a result of series of meetings between Georgian and Russian aviation authorities.
14 Apr.'15 22:16
Interpol Drops ‘Red Notice’ for Ex-Justice Minister Adeishvili
Interpol withdrew red notice seventeen months after it was issued upon Tbilisi’s request.
14 Apr.'15 16:14
In Tbilisi Danish, Polish, Swedish FMs Pledge Support to Georgia’s European Path
During their joint visit the three FMs stressed on the need of further reforms.
12 Apr.'15 12:48
FMs of Denmark, Poland and Sweden to Visit Georgia
The three foreign ministers will make joint visit on April 14.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
23