Hospitality business signs agreement with Kempinski

Georgia Capital PLC (the Group or Georgia Capital), is pleased to announce that the Group’s Hospitality & Commercial real estate business, owned through m2 (the “Company”), has signed a management agreement with Kempinski Hotels S.A. (“Kempinski”). Under the agreement Kempinski will manage the Company’s upcoming only luxury hotel (the “Hotel”), which is located on Mtatsminda hill - a neighborhood with spectacular panoramic views of Tbilisi. Kempinski is one of the world's leading luxury hotel management groups and the partnership fits perfectly into the Company’s business plan to develop the only luxury hotel within its portfolio. The hotel is expected to add high quality revenues to our Hospitality business starting from fall 2020.