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Home Business

Papashvili Investing 500,000 USD in Marjanoff Express

The FINANCIAL by The FINANCIAL
June 14, 2010
in Business
Reading Time: 3 mins read
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The FINANCIAL — Lasha Papashvili, businessman, Chairman of Bank Republic’s Supervisory Council and CEO of Redix, Real Estate Development Company, has announced his entrance to the hospitality business, making his first investment of 500,000 USD in Marjanoff Express.

 

Marjanoff Express has been 100% owned and managed by Redix Hospitality since June, 2010. The company previously had a share in the restaurant however it had other management.

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The restaurant, located in Marjanishvili Theatre, was first opened 2 years ago, in June 2008. 

 

“Changes will be undertaken in almost everything including design and menu. Approximately 50% of the restaurant will be totally changed.

 

We believe the number of clients will increase when the quality of the service, nutrition and design is improved,” said Lasha Papashvili.

 

According to Papashvili, there will be 4 more restaurants added to the chain during the year 2010. The chain of restaurants in Tbilisi will host their guests in Saburtalo, Vake and old Tbilisi.

 

“Our hospitality direction is one of the biggest in our portfolio. Total investment in this direction will be in the tens of millions,” said Papashvili.

 

“The first hotel will be built in Sighnaghi in 2011, an additional 2-3 hotels are planned to be opened in 2013,” added Papashvili.

 

Redix department HoReCa will be in charge of managing the new restaurant and hotel chain. High-class hotels and restaurants will be located in different parts of Georgia including Sighnaghi, Telavi, Kvareli, Abastumani, Bakuriani and Kobuleti. The hotels will be for the middle and high income segment.

See also  Spotify outage loss is estimated to be approximately $387,000

 

“In the direction of HoReCa our country has huge potential. The capital is more or less assimilated, but the regions which are attractive to tourism need to be revived. It is necessary to create conditions of maximum comfort for our guests,” said Papashvili.

 

Moreover, Redix together with charitable fund Tsiskari, have awarded the best producer’s work with 20,000 GEL for the second time. The ceremony is traditionally held in Kvareli, in the museum house of Marjanishvilebi.

 

The theatrical premium – Duruji – is the highest monetary award in the field of art and is conducted annually in June. The judging panel consisting of 5 members evaluates the represented nominees’ spectacles staged over the 2009-2010 theatre season.

 

By the decision of the judges, out of the 21 pretenders only 5 fell in the short list of producers

 

Robert Sturua – Biedermann and Fire Raisers (Shota Rustaveli National Theatre) 


Davit Doiashvili – Makbet (The National Theatre of Music and Drama)

Amiran Shalikashvili – Christ (The Pantomime National Theatre)

 

Nika Sabashvili – The Letters of Mad ( New Theatre)

Giorgi Tavadze – The Pudding of Banana and Quince with Cognac and Rum (Batumi National Drama Theatre of Ilia Chavchavadze)

“Comparing the previous year the number of premium nominees increased from 14 to 21. I strongly believe the judge will make an objective decision and the winner will be worthy,” said Papashvili.

 

The partners of the theatrical premium include Redix, on the information side – TV channel Imedi, newspaper 24 hours, radio – Jipa, and supporters – Geocell, Evita Peroni, Flowers.ge, Goodwill, Teliani valley and Voulez Vous.

 

 

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