Park Hyatt Tbilisi Hotel & Office Tower Project

International Estate Investments - Georgia LLC
Legal Address: # 1 Right Embankment, Tbilisi, Georgia;

Date: August, 2007

PARK HYATT TBILISI HOTEL & OFFICE TOWER PROJECT

 

General Information on the Project Company

The Project company that will implement the project is International Estate Investments - Georgia LLC (the Company), a company registered under the laws of Georgia on September 29, 2005. The Company was established for the purpose of the execution of the Project only.

Organizational legal form of the company is a limited liability company under the laws of Georgia.

The Project Company  constitutes fully (100%) owned subsidiary of Loyal Capital Group B.V.

 

 

The Property of the Company

The Project property constitutes a land plot that is located in the downtown of Tbilisi. Total Project will be developed on approximately 3,8 hectare land plot. The Project Property is situated on the right bank of the River Mtkvari to the east of the Tamar Mepe Bridge. The site was occupied by an unused restaurant "Aragvi", which was well known in Tbilisi and has been just demolished by the Company to make way for the Project.

 

The Project Outline

The proposed hotel development will be part of a mixed-use project comprising office, hotel, conference facilities and SPA & leisure components. The project will consist of four separate building-structures. Please see below the various components and the key characteristics of the development:

• 1. 30,000 square meters net of Al office accommodation including state-of-the art business centre;
• 2. Five-star hotel with 183 keys (exclusive Park Hyatt) including food and beverage facilities comprising a fine dining restaurant, brasserie, juice bar and a hotel bar, also serving food;
• 3. Condominium apartments to be located within hotel tower building - on the top floors;
• 4. Extensive conference and banqueting facilities accommodating 800-1,000 delegates theatre style and up to 600 guests banquet style, which will be the largest provision in the city;
• 5. luxury health club and spa including a indoor and outdoor swimming pool, treatment rooms, juice bar, fitness and tennis courts;
• 6. Along standing theme restaurant;
• 7. Top roof bar on the top floor of the Office Tower;
• 8. Parking for approximately 550 cars.

Hyatt will operate entire Project infrastructure Hotel, Office Centre; Conference Facilities, SPA and Restaurant;

 

 

Project Management

The Project is managed by Confluence (former APP International (http://www.appinternational.com/) a high qualified project management company with extensive experience in hospitality projects including Hyatt developments. 

The Company and Confluence have entered into the Project Management contract under which APPI has been executing management of the design, development and construction of the Project. The design and tender stages of the Project will be managed from Confluence's Dubai office with required resources relocated to site. One full time Project Manager of Confluence have moved and is engaged at the Company's Tbilisi office of the Company.

Hyatt will operate entire Project infrastructure Hotel, Office Centre; Conference Facilities, SPA and Restaurant;

 

Architectural Design of the Project 

• The Company has entered into the Technical Services Agreement with Hyatt International Technical Services Inc. (HITS) that provides technical assistance to the Project according to Hyatt minimum standard and requirements.
• The design of the Project is done by high qualified international design firms and consultants. The Company has entered into the Architect Design and Interior Design Services agreements with world class Architect and Design firm - BBG-BBGM (http://www.bbg-bbgm.com/). BBG-BBGM has completed Concept Architect Design, Schematic Design and Design development phase will be completed within next month;
• The Company has engaged Landscape Architect Lovejoy (UK) (www.lovejoylondon.uk.com) that is progressing on concept landscape design;
• The following main consultants also are involved in the design process: Van Der Meer (VDM) (http://www.vdmg.com.au/; or http://www.vandermeer.com.au/ ) - Civil and Structural Engineers; Waterman Emirates (http://www.wahw.com.au/; or http://www.waterman-group.co.uk/) - MEP (electrical, machinery, fire, hydro) Consultants;