Georgian Partnership Fund announces public auction to further develop Borjomi Likani hotel
BAKU, Azerbaijan, December 5
By Tamilla Mammadova – Trend:
Georgian Partnership Fund (PF) announces a public auction to further develop Borjomi Likani hotel, Trend reports with reference to the fund.
PF is looking for an investor that will be interested in a long-term lease or full purchase of the Borjomi Likani Hotel. The five-star hotel has 151 rooms.
Public Auction of Borjomi Likani Hotel will be held at PF on December 6. Adress: Tbilisi, Vukol Beridze Street 6.
The fund offers a 10-year lease on hotel assets (along with the procurement right) to the potential investors.
As reported, the initial price is $37.5 million. In the case of the lease, the annual rent is 8 percent of the purchase price, or $3 million.
Borjomi Likani hotel owns 156,600 square meters of land and hotel buildings. The land plot of 234,425 square meters adjacent to the hotel remains the property of the Partnership Fund.
The hotel area is bordered with the state-owned Romanov Palace and 8-ha historic park, where a large-scale museum complex is set to be arranged as soon as the restoration and rehabilitation process is completed.
The Partnership Fund has owned 100 percent of the Borjomi Likani hotel since 2018.
Follow the author on twitter: @Mila61979356