To be named Citadines Tbilisi Freedom Square, the 65-unit property will add Georgia to Ascott’s global footprint. Ascott will be the first international serviced residence operator in the country when the property opens in the second half of next year.
Ascott said the Georgian connection will boost the Group’s expansion into the emerging Eastern European market. Citadines Tbilisi Freedom Square is centrally located in the heart of town, next to Freedom Square, a popular tourist attraction.
Lim Chin Beng, Ascott’s Chairman, said: “Europe is a key market for Ascott’s global expansion, and Georgia presents us with the unique opportunity to establish first-mover advantage as there is currently no international serviced residence operator in the country.”