BGEO Group’s real estate subsidiary acquires a hotel in Gudauri
BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2”or the “Company”), has acquired an under construction hotel in Gudauri (“the Gudauri Hotel”) for a total cash consideration of US$7.2 million (including VAT). The Gudauri Hotel is expected to add at least 134 rooms to m2’s portfolio, conveniently located on the slope with ski-in and ski-out facilities in Gudauri – a leading ski resort in the Caucasus region. The skeleton of the building is already finished and remaining construction works will be carried out by m2’s construction arm. The Company expects to open its doors to its first visitors in December 2018.