First ‘Host in Georgia’ Hotel to Open in Bakuriani

The Entrepreneurship Development Agency of Georgia announced the opening of the first hotel in the framework of the ‘Host in Georgia’ program. Local company Toka will open a new high-standard hotel in Bakuriani ski resort this December.

As part of the new state program, the Entrepreneurship Development Agency will pay the interest of Toka’s loan for the first two years while the company itself will pay only the amount it borrowed to build the hotel in Bakuriani. With the help of the Agency, total investment for the project will be USD 270,000.

Dozens of people will be involved in the construction of the project while 15 people will be employed in the new hotel when it opens.

Toka is the first business of the Host in Georgia state program that the Government of Georgia launched last year. The program is a sub-component of ‘Produce in Georgia,’ which was established mid-2014 to revive the country’s production industry and improve Georgia’s economic future.

Host in Georgia encourages regional entrepreneurs to build new hotels and develop the hospitality industry in Georgia’s diverse regions. Entrepreneurs will also be free to expand existing hotels or bring foreign brands into the Georgian market as a franchise.

Within this sub-program, the State will co-finance the business projects of entrepreneurs who want to build a new hotel in any region of Georgia except the capital Tbilisi and Black Sea resort town Batumi.

Eka Karsaulidze