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RedCo Invests $150m in the Development of Gudauri Resort

Company “Red-Co” plans construction of European standard resort zone in New Gudauri.

The company has already acquired land plot of 50 ha in new Gudauri, which development should be made in line of general plan of company “Ecosign”.

The first stage of the project includes cultivation of 10 ha. Construction of 26 buildings are envisaged at this level, which will provide the resort with additional 42 000 rooms.

As of the new general plan, several 2, 3, 4, and 5-star hotels, apartments, townhouses and villas will be built at the resort. Additional recreation and entrainment infrastructure should be arranged – ice- rinks, restaurants, entertainment centers, sports grounds, shops, tennis courts, SPA centers and casino. The resort should be also equipped with modern parking system.

Company “Red-Co” has already received the prior consent from “Starwood Hotels and Resorts Worldwide” on opening of world famous brand hotels “Sheraton” and “Four Points by Sheraton”.

Investment of 150 million USD should be made in the development of the resort. However, memorandum has been signed within the frame of the project between “Maintain Resort Development Company” and company “Red-Co”.

It should be noted that “Red-Co’s” three apart hotels are already operating in Gudauri, while the company will open Radisson Blu 5-star hotel in new Gudauri. “Red-Co” will implement additional investment of 15 million in the project.