About Civil.ge
Eng | Geo | Rus
Last updated: 23:46 - 28 Nov.'14
 
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
28 Nov.'14 23:46
Parliament Endorses Govt-Backed Surveillance Bill
GD parliamentary majority voted down competing bill, tabled by the Republican Party.
27 Nov.'14 15:49
Girgvliani Case-Related Charges Filed Against Saakashvili
This is the latest in series of criminal charges filed against Georgia’s former president since late July.
27 Nov.'14 02:38
GD Divided as MPs Debate Surveillance Regulation Bill
Opposition MPs, as well as some GD lawmakers are against of govt-backed bill.
26 Nov.'14 23:39
Latvian FM Lays Out EaP Riga Summit Goals
“We definitely want to see Riga Summit as a visa liberalisation summit,” Rinkēvičs said in Tbilisi.
26 Nov.'14 11:45
Karasin on New Treaty Between Moscow and Sokhumi
Russian Deputy Foreign Minister expressed hope that dialogue with Tbilisi will continue.
25 Nov.'14 22:20
Latvian President Visits Georgia
President Bērziņš is accompanied by government members and a large group of Latvian businessmen.
25 Nov.'14 18:34
Case of Arrested MoD Officials Largely Declassified
Prosecutors said only 7% of the case, related to sensitive military information, remains classified.
25 Nov.'14 12:03
NATO ‘Doesn’t Recognize So Called Treaty’ Between Moscow and Sokhumi
NATO Secretary General said it “does not contribute to a peaceful and lasting settlement.”
25 Nov.'14 03:26
U.S. ‘Will Not Recognize Any So Called Treaty’ Between Moscow and Sokhumi
U.S. said its position “remains clear: these regions and integral parts of Georgia.”
25 Nov.'14 01:03
EU: Moscow’s Treaty with Sokhumi ‘Detrimental to Efforts to Stabilise Situation’
It “contradicts principles of international law,” EU foreign policy chief said in a statement.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
51