OREANDA-NEWS. Silk Road Business Center Ltd. and VTB Bank (Georgia) JSC. have signed a Credit Facility Agreement under which hotel “Park Inn” will be opened in the former Post-telegraph building at 31 Rustaveli Ave., Tbilisi.

On 23 April 2013, Silk Road Business Center Ltd. and Rezidor Hotels APS Denmark signed an Agreement on transfer of “Park Inn” in trust to Rezidor Group management.

Project costs are estimated at USD 22 million. The funds have been raised by project owner, Silk Road Business Center Ltd., under management of Silk Road Group and with VTB (Georgia) assistance. The Hotel will have approximately 200 rooms, restaurant, lobi bar, gym hall and sauna. The hotel will also offer conference space and business lounge.

At the moment, work on project planning and design is under way. The construction works are starting in September 2013. External appearance of the Post building will be remained inviolate. The Project has been agreed upon with Teimuraz Mikashavidze, the author of Post building project, who also has attended the signing ceremony.

According to the preliminary plan, the Hotel will host guests from the third quarter of the year 2015. Prime advantage of “Park Inn” is its location and best available rates.

With the help of investments attracted by Silk Road Group, in 2009 New Hotel Ltd. opened Hotel Radisson Blue Iveria.