Businessman David Kakabadze, owner of the balneological resort Park Resort Tskaltubo and other assets in Tskaltubo, is offering the Georgian government cooperation in the format of a public-private partnership (PPP) to transform the spa town into a multifunctional, four-season resort.
Speaking on BMGTV’s program Tsentili, Kakabadze emphasized the need for a dedicated marketing strategy to raise Tskaltubo’s profile as a balneological resort.
“Tskaltubo is a place of such a level that it needs a separate team for development. I have never seen a focused presentation of Tskaltubo projects anywhere to attract investors,” he said.
Kakabadze stressed that until Tskaltubo’s reputation improves, it will be difficult to privatize individual sanatoriums. He also criticized investors who purchase properties without fulfilling their obligations, which he believes undermines those already operating in the area.
“This puts existing business groups in the worst position. We want the area to be more active and attract more interest,” he noted.
According to Kakabadze, he has already secured a European partner ready to invest in Tskaltubo’s transformation into a four-season destination. Together, they want to present their development vision to GD Prime Minister Irakli Kobakhidze.
“Over the past year, we analyzed all the information about Tskaltubo. We found a very interesting investor who is ready to make investments—if negotiations with the state are successful. I spoke with the Prime Minister’s office last week to introduce this person and the business group.
We want to develop medical tourism in Tskaltubo, including the construction of hospitals, a university, and residential areas. This is a large project, and we want to present it to the GD Prime Minister personally. I believe he has the right vision for the country’s development, and I want to show him how Tskaltubo can become a true four-season resort,” Kakabadze said.
Kakabadze believes the state should play an active role in marketing, while business groups provide the investment and infrastructure.
“The state may have to lead on marketing, but if we become the owners of larger spaces, we can join forces. This could be a very good example of how a public-private partnership can work in Georgia,” he explained.
Asked about the scale of investment, the businessman declined to name figures, noting that it depends on negotiations with the government.
Kakabadze underlined that his family business is already investing in improving hospitality services in Tskaltubo, such as building a swimming pool at their resort. However, he stressed that their ambition goes beyond individual facilities.
“We have very good partners and investors who want to unite everything in one space. If we agree with the state on the right conditions, my family will definitely participate. Tskaltubo must be preserved like a modern museum—we need to protect every sanatorium, outside and inside, and give them proper functions. Our plan goes beyond 10–11 buildings. We want to make Tskaltubo a truly multifunctional city,” he said.
Kakabadze expects that a meeting with GD Prime Minister will likely take place after the upcoming local elections.
David Kakabadze is the son of Russia-based businessman Badri Kakabadze. Their company, B&N Group, owns two baths in Tskaltubo, Park Resort Tskaltubo, the Magnolia restaurant, and other assets. According to David Kakabadze, the family has already invested around USD 70 million in Tskaltubo.
