The Hilton-branded hotel in Tskaltubo is expected to open in 1 to 1.5 years, according to investor Jamata Charkviani. Currently, Aka Holding is completing facade and courtyard works for the project.
The 122-room hotel will feature luxury, presidential, and standard rooms, with the company investing €18 million in the development. Charkviani noted that while general construction costs have risen, the project’s estimated value has not increased, as it was pre-assessed by Hilton.
“Work is ongoing on the facade and courtyard. The rear part of the building couldn’t withstand the construction activities and will be replaced with a new structure,” he said.
The project follows the state program “New Life for Tskaltubo,” under which Aka Holding purchased the former Tbilisi Sanatorium from the government in August 2022 for GEL 3.152 million. The company committed to building at least a 110-room hotel within 55 months, investing a minimum of GEL 9.43 million.
