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In Hospitality & Real Estate in Georgia

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In Hospitality & Real Estate in Georgia HOSPITALITY & INVESTMENT CLIMATE & 1 OPPORERTUANLITIES ES IN GETAORGITEA 2019 GEORGIA COUNTRY OVERVIEW Area: 69,700 sq. km Population: 3.7 mln GDP 2018: USD 16.2 billions Life expectancy at birth 2017: 73.5 years GDP real growth rate 2018: 4.7 % Georgian GDP CAGR 2013-2018 (GEL): 4 % Literacy: 99.8 % GDP per capita 2018: USD 4346 Capital: Tbilisi Inflation rate (December) 2018 (Y-o-Y): 1.5% Currency (code): Lari (GEL) Total Public Debt to Nominal GDP (%) 2018: 42.2% INVESTMENT CLIMATE & 2 OPPORTUNITIES IN GEORGIA ADVANTAGES OF INVESTMENT CLIMATE IN GEORGIA A politically stable investment destination EHƒEKGPVRro-business and corruption-free government Free trade agreement with 2.3 billion markets Competitive cost of labor and energy Entry gate between Europe and Asia Stable Macroeconomic situation and solid sovereign balance sheet 5KORNGNQYCPFGHƒEKGPVVCZCVKQP 6th easiest country to do business in (World Bank’s Ease of Doing Business Report 2019) th 6 safest country in the world (Numbeo’U%TKOG+PFGZ BB BB- Stable Ba2 Stable INVESTMENT CLIMATE & 3 OPPORTUNITIES IN GEORGIA WHY INVEST IN HOSPITALITY & REAL ESTATE IN GEORGIA Continuous Increase of International No Real Estate Ownership Restrictions Visitors – 21% average annual growth of Governmental Incentives Available Visa Free Regime with 98 Countries Unique Nature and Culture Various Types of Resorts and Investment Opportunities INVESTMENT CLIMATE & 4 OPPORTUNITIES IN GEORGIA NUMBER OF INTERNATIONAL TRAVELERS HAS BEEN GROWING RAPIDLY 10 9 8.7 8 7.9 7 6.3 6.7 6 5.7 5.9 5 4.7 +10% 4 3 2 1 0 2012 2013 2014 2015 2016 2017 2018 TOP COUNTRIES BY INTERNATIONAL Georgia has proved to be a highly ARRIVALS IN 2018 desir able location for the hospitality and real estate sector 8% Azerbaijan Average duration of stay (International 25% 20% visitors) - 4.3 nights, ave ra ge spend - Turkey GEL Russia Number of international tourist Armenia arrivals is GZRGEVGF to grow by 8-10% 22% EU during 25% International) INVESTMENT CLIMATE & 5 OPPORTUNITIES IN GEORGIA HOSPITALITY INDUSTRY OVERVIEW & KPI'S HOTEL INDUSTRY REVENUES EXISTING AND FUTURE HOTEL ROOM SUPPLY BY TYPE 2014 2020 F - 14,000 12,610 700 3.00 12,000 600 2.54 2.50 10,000 4,988 500 7,875 2.00 8,000 7,331 1.86 1.85 400 1.50 6,000 2,675 1.39 4,432 300 1.26 4,154 1.00 3,134 200 4,000 2,306 1,350 0.50 1,631 1,760 100 2,000 1,492 249.44 281.66 342.12 459.68 579.79 1,253 956 1,093 2,641 0 - 612 965 376 590 590 2012 2013 2014 2015 2016 - 376 2014 2015 2016 2017 2020 F Hotel Industry Revenues , Gel, mln (LHS) International upscale brands International midscale brands Number of Guests in Hotels , mln (RHS) Local upscale and middle class Economy/Budget Class Source: Colliers International HOTEL OCCUPANCY RATES IN GEORGIA BY MONTHS (%) 83.2 81.3 81.3 76.7 77.5 77.0 64.5 66.5 67.7 66.3 69.3 59.2 53.6 57.8 53.7 50.6 43.9 44.2 39.5 40.5 32.4 36.0 2017 2018 INVESTMENT CLIMATE & 6 OPPORTUNITIES IN GEORGIA HOSPITALITY INDUSTRY OVERVIEW & KPI'S PERFORMANCE INDICATORS OF INTERNATIONAL BRANDS 150 100% 146 90% 130 144 141 135 136 129 80% 110 72% 70% 69% 70% 66% 66% 66% 90 60% 105 70 95 99 50% 89 90 90 50 40% 30% 30 20% 10 10% -10 2012 2013 2014 2015 2016 2017 0% ADR RevPAR Occupancy Colliers International HOTEL ADRs BY YEARS 2016 2017 2018 268.43 281.83 292.72 289.31 268.43 281.83 *All hotel types Administration (GNTA) INVESTMENT CLIMATE & 7 OPPORTUNITIES IN GEORGIA MAIN TOURIST DESTINATIONS AIRPORT WINTER SUN-BEACH SKI RESORTS RESORTS MEDICAL & GAMBLING WELLNESS RUSSIA Sokhumi Mestia Zugdidi Gudauri Anaklia Tskhaltubo Kutaisi Tskhinvali Poti Bazaleti Gori Abastumani Telavi Kobuleti Borjomi GEORGIABakuriani Ahktala Batumi TBILISI Goderdzi Akhaltsikhe Sighnaghi Gonio Akhalkalaki TURKEY AZERBAIJAN ARMENIA INVESTMENT CLIMATE & 8 OPPORTUNITIES IN GEORGIA HOSPITALITY & REAL ESTATE INVESTMENT OPPORTUNITIES Home to more than 12,000 historical and cultural monuments including several UNESCO World Heritage Sites 8 national parks and 84 different categories of protected areas “SUN-BEACH” FOUR SEASON MEDICAL & WELLNESS WINTER SKI RESORTS GAMBLING RESORTS RESORTS RESORTS MiZed and all- Winter resorts Majestic landscapes Unique water Development of inclusive seaside with wide range of allow four season and mud large-scale resorts activities including tourism activities resources provide integrated casino freeride and heli- opportunities EQORNGZ skiing for SPA resort development LOCATIONS Batumi Mestia Mestia Tskhaltubo Batumi Gonio Bakuriani Bakuriani Akhtala Anaklia Anaklia Gudauri Goderdzi Borjomi Tbilisi Kobuleti Goderdzi Kazbegi, etc. Abastumani, etc. Tskaltubo Other Black Sea Bakuriani locations Sighnaghi Kobuleti, etc. INVESTMENT CLIMATE & 9 OPPORTUNITIES IN GEORGIA TBILISI CAPITAL OF GEORGIA Tbilisi is the capital of Georgia and the key destination for tourists and business travelers. The city has remarkable historical heritage and different tourist attractions. The number of multinational companies operating South Caucasus and CIS headquarters in Tbilisi is increasing steadily, which ensures Tbilisi’s position as a regional business hub. The city beneƒVU from growing international, regional and local visitors. Over the last 5 years, hotel annual occupancy rates in Tbilisi have been around 70%. REAL ESTATE INVESTMENT OPPORTUNITIES Development of “A” class Development of middle & Development of retail MICE (conference facilities) high class hotel locations center premises and entertainment centers STATE OWNED PROPERTIES ARE AVAILABLE FOR SALE AND FURTHER DEVELOPMENT IN TBILISI’S CENTRAL LOCATIONS INVESTMENT CLIMATE & 10 OPPORTUNITIES IN GEORGIA INVESTMENT OPPORTUNITIES IN TBILISI MIXED-USE DEVELOPMENT Located in the Center of Tbilisi GPB Building can be developed into miZed use with 4-star Hotel, Co-Working space, Retail area and Hostel Components. INVEST MEN T O PPO RT UNI T IES Units/Sellable Area Required Investment (USD) 4-Star Hotel 250 Keys Building #1 ~ 33.8 mln Co-Working Space 2,000 sq.m. Building #1 ~ 33.8 mln Retail Area 33,750 sq.m. Building #2 ~ 50 mln Hostel 350 Beds Building #3 ~ 5 mln BUILDING # IRR 19.7% 18.47% 18.51% NPV (USD) 8,453,024 3,140,080 332,124 Payback Period 9 years 4 years 4 years INVESTMENT CLIMATE & 11 OPPORTUNITIES IN GEORGIA INVESTMENT OPPORTUNITIES IN TBILISI Radio City TBILISI URBAN REGENERATION PROJECT Development opportunity of former radio factory located on 12 ha land plot. Multi-functional project includes entertainment areas, hotel, F&B, children zone, sport and workshop facilities for creative industries, areas for cinema, swimming pool, concerVCPFGZJKDKVKQPvenues. INVEST MEN T O PPO RT UNI T IES IRR 16% NPV (USD) 959 000 Development Cost USD 18 million Number of visitations /annual 2.3 million INVESTMENT CLIMATE & 12 OPPORTUNITIES IN GEORGIA INVESTMENT OPPORTUNITIES IN TBILISI Tbilisi TV Tower represents one of the main landmarks of the city. Investment project foresees development of a concept restaurant, visitor’s center, panoramic viewing platform and different tourism related attractions at +70 m. INVEST MEN T O PPO RT UNI T IES Development Cost USD 10 million Number of Visitors/Annual 350,000 INVESTMENT CLIMATE & 13 OPPORTUNITIES IN GEORGIA HOSPITALITY & REAL ESTATE OPPORTUNITIES AT THE BLACK SEA ADJARA REGION Due to the growing number of international visitors, commercial real estate, including international brand hotels are rapidly developing in Georgia’s Black Sea resorts. Sun-Beach resorts are one of the largest and fastest growing touristic destinations in Georgia. Ajara Region, located in southwestern corner of Georgia, is known for its admirable seaside journeys and GZperiences. Ajara region had more than 1.6 million international visitors in 2017. Batumi, Administrative Center of Ajara Region is the second most visited city in Georgia. Ajara is rich with water resources including rivers, springs, mineral and ground waters. The richness of Kintrishi Nature Reserve, Mtirala National Park, Kobuleti Nature Reserve, Machakhela Protected Area. Population: ~ 400 000 Area: 2 900 km² International Border: With Turkey to the South 57 km INVESTMENT CLIMATE & 14 OPPORTUNITIES IN GEORGIA BATUMI ADJARA REGION Batumi is the second largest city and the most EZKUVKng and upcoming International hotel brands popular seaside destination in Georgia Crowne Plaza, Best Western, Swissotel, etc. The city is famous for its fusion of historical and modern architecture, high-rise landmark Batumi international Airport currently serves buildings, sandy and stony beaches and more than 30 destinations through 22 different admirable landscapes airlines, including Turkish Airlines, Georgian Airways, Belavia, Air Arabia, and etc. INVESTMENT CLIMATE & 15 OPPORTUNITIES IN GEORGIA INVESTMENT OPPORTUNITIES IN BATUMI, ADJARA v Location - Batumi, City Center, 25 M. Abashidze str. Land area - 905 m2 - 25 000 m2 Cadastral Code - 05.22.26.009 - Adjara AR Government v Location - Batumi, Center of the city, 40 M. Abashidze str. Land area - 0.1128 ha - 664.8 m2 Cadastral Code - 05.22.12.012 - Adjara AR Government INVESTMENT CLIMATE & 16 OPPORTUNITIES IN GEORGIA INVESTMENT OPPORTUNITIES IN KOBULETI, ADJARA KOBULETI ADJARA REGION INVESTMENT OPPORTUNITY AT BLACK SEA COAST IN ADJARA REGION Kobuleti is one of the most popular seaside resort in Georgia. Situated along the Black Sea coast on the wide Kobuleti municipality has bio-diverse nature, with Kintrishi Protected Landscape and views over the sea and is ready to be renovated into Kobuleti Managed Reserve being part of it. a resort with a hotel and residential components, Number of visitors in Kobuleti hotels casino, Food and Beverage and the outdoor pool. approZKOCVGN[COQWPVUVQyearly. The proposed miZed-use real estate project Distance from Airports: includes hotel with 80 standard rooms, a residential » Batumi International Airport – 39 km component with 160 apartments (an average size of » Kutaisi International Airport – 89 km 40sq m.), casino and integrated F&B.
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