Second Phase of the Partnership Fund-Backed Lopota Tourism Complex Expansion Project Has Been Completed

The second stage of the Partnership Fund-backed expansion project of the Lopota Tourism Complex on the Lopota Spa Resort Hotel premises in the region of Kakheti has been completed. The renovated Lopota Complex is now ready to welcome its guests.

The opening ceremony of the premier-class hotel complex took place on the Lopota Spa Resort Hotel premises. The event was attended by the Governor of Kakheti Irakli Kadagishvili, the Partnership Fund Executive Director David Saganelidze, representatives from the Partnership Fund, the banking sector, the business sector and local municipalities, as well as other officials.

Expansion of the Lopota Spa Resort tourism complex in Kakheti included the addition of an 84-room hotel, an administration building, an events hall with room for 600 people, a restaurant, a bungalow, a fitness club, as well as indoor and outdoor swimming pools. The Partnership Fund invested $5.4 million in the second phase of the expansion project. The third phase involves the construction of Chateau Buera, which will include a wine factory and a restaurant.

“Thanks to the support from the Partnership Fund, the Lopota Tourism Complex will become busier, thereby increasing revenues for the region and local employment prospects. Improvement of tourist infrastructure is one of the main strategic areas for the Partnership Fund, and I am delighted to see our team involved in the development of another tourist facility. Georgia now has an expanded tourist location that satisfies international standards, and will not only attract foreign visitors, but will also encourage the development of domestic tourism,” stated the Executive Director of the Partnership Fund, Davit Saganelidze.

„For many decades, Lopota Lake was used only for fishing, and did not even appear on Georgian tourist maps. Today, interest towards Kakheti is constantly growing, generating healthy competition. Consequently, the development of our hotel is proceeding in many different directions,” added the founder of Lopota Spa Resort, Giorgi Maisuradze.

Construction works at the premium-class Lopota Spa Resort Hotel were carried out by the firm CIC, under supervision from Colliers. Interior and exterior works were carried out by Architectural Orchestra. A total of $20 million has been invested in the project, with TBC Bank providing $7 million in funds.

“Lopota is on our list of clients whose history and success are intrinsically linked with TBC Bank. We are delighted that they have been able to attract additional investment from the Partnership Fund, which will greatly help the company’s growth and development. We wish Lopota and its management all the best,” stated the General Director of TBC Bank, Vakhtang Butskhrikidze.

Prior to expansion, Lopota Spa Resort was a 102-room hotel. Its premises now include a spa centre, a Kakhetian restaurant, a wine restaurant, a lounge bar, open-air bungalows, a grill corner, the All Day Dining restaurant, a Russian bathhouse, a nightclub, a horse stable and various other entertainment facilities. The hotel has been operating since 2008. It currently employs 250 people, 180 of whom come from the local area.

The tourism sector and regional development in the real estate area constitute two of the main priorities for the Partnership Fund. Projects that have been carried out with the Fund’s backing include the Borjomi Likani Hotel in Likani, Gino Wellness in Akhaltsikhe, Royal Batoni in Kvareli, a multifunctional health and spa resort in Sairme, and the Best Western Hotel in Kutaisi. Another Partnership Fund-backed 5-star hotel will shortly open in the Kakheti region in the shape of Radisson Tsinandali, which will be located on the premises of the Alexander Chavchavadze house museum. The Fund is also involved in the construction of the Park Inn by Radisson Hotel in Tbilisi. Furthermore, the Partnership Fund is currently studying investment projects in Pasanauri, Abastumani, Bakuriani, Gudauri, Racha and Tskaltubo.

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