Loan Amount | € 1,670,712 |
Grant Amount | € 250,607 |
Invested in: | Building refurbishment and technical installations, furniture and kitchen equipment |
Primary Energy Savings | 1,178 MWh/year |
GHG Savings | 182 tCO2/year |
Energy Saving Ratio | 38 % |
Kvareli’ Lake Resort is a hotel and restaurant facility spread over 300 hectares of beautiful natural landscape in the heart of Kakheti, one of the most beautiful regions of Georgia, east of the small city of Kvareli, beneath the southern slope of Great Caucasus mountains. The m-Group was established in 2005 and currently manages 6 hotel and restaurant objects in Tbilisi and Kvareli, each with a unique concept, targeting various price segments. The m-Group is a leading brand in the Georgian hospitality sector and was the first in former CIS countries to obtain ISO9001:2000 and HACCP certification, with the clear mission of introducing Western standards: state-of-the-art facilities, innovative designs and hospitality concepts that enhance the customers’ recreational experiences, embracing social and environmental responsibility .
The investment in comprehensive building refurbishment was designed to bring Kvareli Lake Resort into full compliance with Georgian regulation and with applicable EU Directives. The project included the refurbishment of the buildings and interior to a high standard, whilst minimizing energy consumption, optimizing fire safety and health and safety. Financed through a EU4Business-EBRD Credit Line loan, the project was verified during the COVID spring of 2020 – at the worst time possible as one should think. However, due to its unique location and due to the comprehensive improvement measures implemented as part of the investment project, the company successfully applied and won a government contract for quarantine accommodation.
Throughout most of 2020, Georgia had imposed strict quarantine conditions on incoming travellers, requiring them to self-isolate for a 14-day period upon entering Georgia. Whereas any quarantine period is stressful, passing this time in the beautiful location, with medical monitoring provided on site, made travellers feel both relaxed and safe.
