Entrepreneurs operating in the regions of Georgia can benefit from the new component of the State Program “Produce in Georgia” – Hotel Industry Incentive. According to the Governmental decision, and based on market demand, the scheme was introduced to promote hospitality business across the country, attract large numbers of tourists, create jobs and help the development of each region. The scheme promotes entrance of international hotel brands via franchise or management contracts by co-financing royalty fees.
It is notable that according to the state program’s component – Hotel Industry Incentive, the Entrepreneur who is interested in the financial support, can benefit from this opportunity in any region of Georgia, excluding the cities of Tbilisi and Batumi, to either build a new hotel, or to expand/re-equip the existing infrastructure. Entrepreneur can also sign a franchise contract with the international hotel operator and bring the foreign brand in the Georgian market.
The Hotel Industry Development component of the State program ‘Produce in Georgia’ already gains a huge success. By September 2019, the agency Entreprise Georgia already supported 114 business entities, with a total investment volume of GEL 291.9 mln. These 114 Hotels will create more than 2 910 jobs and add more than 3,420 new rooms to the Georgian Hotel Industry.
The New Hotels will be built in Bakuriani, Gudauri, Poti, Ureki, Nikortsminda, Kazbegi, Sagarejo, Gonio, Shekvetili, Telavi, Tskaltubo and Kutaisi.