Another investment business opportunity supported by the Georgian government is Sheraton Hotel and resort in Batumi which is considered in Georgia real estate and hospitality sector. As we said in the previous articles, the Georgian government has a strong investment offer for investors, it has a liberal and free-market-oriented economic policy, access to a 2.3 billion consumer market through its solid FTA network including both EU and China, educated, skilled, and competitively priced workforce, 6 types of low and flat taxes, significantly decreased the number of licenses and permissions, well developed, integrated and multimodal transport infrastructure.
Sheraton Batumi Hotel
Batumi is located in the southwest of Georgia. It is the second-largest city of the country and the capital of the autonomous republic of Adjara. Due to the subtropical climate and its location on the coast of the Black Sea, Batumi is known as the capital of Georgia’s summer tourism industry, Batumi is one of the most popular warm-weather destinations in the country. Batumi offers all of the charms of an elegant, ‘old world’ southern city with the modern benefits that come from continuously improving infrastructure and startling new architectural developments. Sheraton Batumi is a completed and successfully operational Hotel. The owner of the project is Nurol Holding A.S. Hotel has 2020 rooms, 3 restaurants, 1 bar, 7 boardrooms, 1 grand ballroom, club lounge, spa, gym, pool, and casino. This is a great opportunity to buy the market-leading hotel in a fast-growing resort destination: High-quality frontline location Built and maintained to international standards RevPAR in internationally branded hotels in Batumi increased by 16% between 2016 and 2018 Sheraton Batumi outperforms the market: in 2018, the RevPAR of the hotel was 21% higher than the market Further asset management opportunities available.
Structure: Management Agreement
Operator: Marriott International