The Adjara Group and the US International Development Finance Corporation (DFC) signed a financial agreement on Tuesday. The agreement provides support for the rehabilitation of the historical sanatorium "Arazindo" in Abastuman and its development under the brand of Rooms Hotel.
The total cost of the project is USD 14.45 million, of which Adjara Group will invest USD 5.85 million, and take a long-term loan of USD 8.6 million from DFC with the support of the financial consulting company Wings & Freeman Capital.
Along with 76 rooms, the hotel will have a restaurant, bar, conference and meeting spaces. The project will create up to 150 jobs and will create new, high-paying employment prospects for the local population, which will contribute to regional economic development.
It is planned that Rooms Hotel Abastumani will receive guests from 2024.
