Partnership Fund of Georgia announces repeated auction for sales of Borjomi-Likani hotel
BAKU, Azerbaijan, August 5
By Tamilla Mammadova – Trend:
The Partnership Fund of Georgia has one again announced an auction to sell Borjomi-Likani hotel, Trend reports via Georgian media.
The first public auction was held on December 6, 2019, and the starting price was $37.5 million but the auction failed because no applications were submitted.
Currently, the Partnership Fund is offering the potential investors to lease the hotel's assets for a period of 10 years and then buy off these assets. The starting minimum price of Borjomi-Likani hotel is $30.05 million.
Borjomi Likani hotel possesses a land of 156,600 square meters and hotel’s buildings and structures. The Partnership Fund will maintain a land of 234,425 square meters in ownership for further development.
Noteworthy that the hotel territory borders the state-owned Romanov's Palace and a historical park on 8 hectares, where the biggest museum complex will be arranged after restoration-rehabilitation works.
The public auction is scheduled for September 4, 2020, at the Partnership Fund’s office.
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