13th Dec 2019 08:19
(Alliance News) - Georgia Capital PLC said Friday its hospitality business Amber Group has opened a luxury hotel in a local ski resort.
The Georgian-focused investment firm said Amber's investment in the Gudauri Lodge Hotel, including the land value, totals USD14.6 million. The return on invested value is expected to be approximately 12%, the company said.
The "upscale" hotel is located on the slope with ski-in and ski-out facilities in Gudauri, a ski resort in the Caucasus mountains of Georgia, and features a signature restaurant and ski bar along with sun terrace, indoor swimming pool and meeting room facilities.
Irakli Gilauri, chair and chief executive officer, said: "I would like to congratulate Amber Group on achieving the first milestone in its in-house branded hotel development strategy."
"The business has made yet another step towards reaching its targeted 1,000 hotel room portfolio and now already has 273 operational rooms, with a further 949 rooms in the pipeline," Gilauri said.
Georgia Capital shares were up 0.1% in London at 920.87 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Georgia Capital