04.Sep .2020 18:35

Borjomi-Likani Hotel Auction Fails Again - Object is for $ 30 Million


The auction announced by the "Partnership Fund" for the sale of the hotel "Borjomi-Likani" has failed again. The reason for the failure was the fact that none of the investors expressed interest in purchasing the object.

The Partnership Fund offered potential investors a 10-year lease of the hotel assets. In addition, the winning company also received the right to purchase hotel assets. The minimum purchase price of the hotel "Borjomi Likani" was 30,052,326 USD.

The hotel owns 156,600 square meters of land and hotel buildings.

To remind, since 2018, the "Partnership Fund" owns 100% of the Borjomi Likani Hotel. The five-star hotel has 151 rooms.

The Foundation held the first public auction for the sale / lease of the facility on December 6, 2019. The minimum starting price for the hotel was $ 37,565,408, but the auction failed due to lack of participants.