Anaklia

AnAkliA TourisM Zone
investor Presentation
eConoMY & TourisM seCTor / oVerVieW AnAkliA Free TourisTiC Zone / oVerVieW AnAkliA / resorT HoTel ProJeCTs ProJeCT / FinAnCiAl DATA & ProJeCTions
Disclaimer: This analysis does not take into account nor make provision for any possible rise or decline in local or general economic conditions. Analysis and projections have been prepared based on information available and general experience in the hotel industry. However neither Umbrella Management & Consulting nor any of its affiliated or subsidiary companies warrants, guarantees or makes any representation with respect to any of the projections set forth in this analysis. Projections are subject to uncertainty and variation and therefore are not represented as results that will be actually achieved.
eConoMY & TourisM seCTor / oVerVieW
inTroDuCTion
* source: Geostat.ge preliminary data
Georgia is a country to the east of the Black sea. The majority of the countrys territory is located in the south Caucasus, while a portion of it is situated in the north Caucasus. Georgia is a cluster of different cultures and religions, stunning landscapes and ancient history... Capital: Area: Population (2010): Official language: land Boundaries: Tbilisi 69,700 km2 4.4 million Georgian Armenia 164 km Azerbaijan 322 km russia 723 km Turkey 252 km Administration: 9 regions 2 autonomic republics semi-Presidential republic
GDP (PPP) 2010*:
Inflation 2010 (CPI): FDI Inflow: unemployment rate:
Gel 20 791.3 million 6.4% real growth Gel 4 686.5 per capital 11.2% $764.0 million 16%
Political structure:
Georgian national investment Agency Tel: +995 322 433 433 anaklia@investingeorgia.org www.investingeorgia.org
eConoMiC oVerVieW
GDP Per CAPiTA (PPP)
AnnuAl reAl GDP GroWTH rATe

14% 12% 10% 8% 6% 4% 2% 0% 5,9% 2.3% 9.6% 9.4% 6.4%
5 000 4 000 3 000 2 000 1 000 0 2003 2004 2005 2 966 3 242 3 644
4 664 4 038
4 869
4 757
4 971*
12.3%
2006
2007
2008
2009
2010
-2% -4%
2004
2005
2006
2007
2008
2009 2010E -3.8%
source: www. geostat.ge
source: www. geostat.ge
2010 GDP increased by estimated real 6.4% y-o-y. Significant positive change to the beginning of year consensus forecast of 2% .
Georgia is well positioned to resume and maintain economic expansion. The business environment is supported by liberal tax regime and an efficient regulatory framework. Georgian economy has maintained its status as a mostly free economy in 2010 and also ranks 66th out of 180 countries in Transparency internationals Corruption Perceptions index for 2009.
eConoMiC FreeDoM CoMPonenT sCores

100 90 80 70 60 50 40 30 20 10 0
Georgia is well positioned to resume and maintain economic expansion. The business environment is supported by liberal tax regime and an efficient regulatory framework. Georgian economy has maintained its status as a mostly free economy in 2010 and also ranks 66th out of 180 countries in Transparency internationals Corruption Perceptions index for 2009.
2005
2006
2007
2008
2009
2010
55 90.5 30 50 30 18 66.8
73.9 90.8 50 70 30 20 73.6
80.8 88.4 60 70 30 23 99.9
85 81.2 70 60 35 28 100
86.6 74.6 70 60 35 34 99.4
87.9 65.3 30 50 40 39 93.7
Business Freedom Government spending investment Freedom Financial Freedom Property rights Freedom From Corruption labor Freedom
source: WeF Travel Tourism Competitiveness report 2011,world economic forum. notable reforms in business freedom, freedom from corruption, investment freedom, and labor freedom have spurred economic development in recent years and positioned the country to rank of n1 reformer in terms ease of doing business by the World Bank.
TourisM seCTor ouTlook
TrAVel & TourisM CoMPeTiTiVeness inDeX 2011
inTernATionAl ArriVAls To GeorGiA
100
T&Tregulatory framework overall index

90 83 73 64 66 59 50 85
4,92
Growth in mln
73
80
3,65 3,00 2,03 0,98 0,3

2002
60
58 54 48
59
35% 22%
40
25
34 29
35
1,05
1,29
1,50 50% 33%
20
0,31
2003
0,37
2004
0,56
2005 2006 2007
16%
2008
17
2009
2010
2011E 2012E 2013E
1 1
source: Georgian national Tourism Agency Tourism is one of the most rapidly growing sectors in Georgia offering visitors a wide spectrum of attractions. There is a large variety of investment opportunities in tourism in Georgia, including sea, mountains and skiing, mineral waters and health resorts, cultural attractions and many others.
Switz Est Gr Geo Bulg Arm Azer Ukr Turk Russ source: WeF Travel Tourism Competitiveness report 2011,world economic forum.
MosT VisiTeD TourisT DesTinATions in GeorGiA , 3Q 2010 *

80 70 60 50 40 30 20 10 0
Tbil Bat Mtskh Kut Gori Sig Kazb Bak Tel Gud Lag Dav. Mest Upl Gar Ushg Vard Oth
46,30% 78,70%
Government policy towards tourism development Creation of an elite year-round winter resort in Mestia Development of spa cities around Georgia 12 000 Historical and Cultural monuments 103 resorts and 182 resort Areas 8 national Parks 2400 spring of Mineral Waters Therapeutic Climate Youth olympics in 2015 Anticipated annual visitors growth of 35% in the next 3-5 years
18,50%
10,50%
9,40%
8,20%
6,20%
3,60%
3,70%
3,70%
3,40%
2,20%
2,20%
source: Georgian national Tourism Agency * respondents had the possibilities to give multiple answers. For this reason the sum of all responses exceeds 100%
1,70%
2,20%
11%
TourisM seCTor ouTlook

AVerAGe DurATion oF sTAY BY PurPose Purpose of visit leisure/ recreation Visiting friends or relatives Business or professional
source: Georgian national Tourism Agency
PurPose oF VisiT To GeorGiA 2010

35
78,70%
Average number of nights 6.20 5.63 4.98

25% 33% 2% 1% 1% 2% 3% 4% 5% 8% 16%
30 25 20
ACCoMMoDATions TYPes Type of Accommodation Hotel, health resort, sanatorium, holiday center or other big size paid accommodation in the private home of a friend or relative (non paid accommodation) Bed & Breakfast , guesthouse, family house, motel, cottage, cabin, inn, hostel or other small size paid accommodation other on a train or bus Campground, recreational vehicle or trailer park self catering accomodation/rented flat At a railway station or an airport Total
15
%
10
49%
5 0
1%
31% 9% 5% 3% 2% 1% 0% 100%
To be employed by a Georgian organization
Buying goods with the aim of resale
Transit on the way to another country
Average duration of stay in Georgia is 5.27 nights, whereas 49% of visitors are staying in the Hotels
Shopping, buying goods with the aim of consumption
Holidays, leisure, recreation
Religion or Pilgrimage
Health and medical care
Other
Visiting relatives
visiting friends
Business or proffesional
Education or Training
AnAkliA TourisM DesTinATion
sokhumi
Gudauri
Anaklia is a town and seaside resort in western Georgia. it is located in the samegrelo-Zemo svaneti region, at the place where the Inguri River flows into the Black Sea. The city of Zugdidi is the capital of the region.
Bakuriani
GreAT loCATion TBilisi - 340 km - Capital of Georgia BATuMi - 100 km - sea-side city, major entertainment & tourist attraction MesTiA - 120 km round-year mountain resort PoTi - 20 km Georgias biggest port (Free industrial Zone & logistics Hub)
FAVorABle, WArM CliMATe Anaklia is surrounded by the breathtaking landscape of the sandy beach Black sea and the kolkheti national Park, incorporating the land of the former kolkheti state nature reserve and its surrounding wetlands, including lake Paliastomi.
AnAkliA HAs A sTrATeGiC loCATion WiTH eAsY ACCess AnD MoDern inFrAsTruCTure: new Poti international Airport (by 2012) new Anaklia- Poti Highway new Anaklia Batumi Highway new Anaklia Airport is only 15 minutes away from resort (by 2011) Batumi international Airport
AnAkliA Free TourisTiC Zone / oVerVieW
CliMATe CoMPArison - BATuMi Vs AnAkliA

Climate data for Anaklia
Month Jan Record high C 22 Feb 22 Mar 26 (79) 11 (52) 8 (48) 6 (44) -5 (22) 15 13 Apr 32 (90) 15 (60) 12 (55) 10 (50) 1 (34) 14 9 May 32 (91) 18 (65) 16 (61) 13 (56) 2 (36) 11 8 Jun 36 Jul 37 Aug 37 (99) 25 (77) 22 (73) 20 (69) 11 (52) 11 6 Sep 32 (91) 22 (73) 20 (68) 17 (63) --(32) 12 6 Oct 30 (86) 18 (65) 15 (60) 12 (55) -1 (30) 11 10 Nov 25 (78) 13 (57) 11 (53) 8 (48) -1 (30) 13 11 Dec Year 22 37
Climate data for Batumi

Month Jan Record high C 23 Feb 26 Mar 28 (82) 12 (54) 9 (48) 5 (41) -5 (23) 18 12 Apr 32 (90) 16 (61) 12 (54) 9 (48) 1 (34) 17 13 May 33 (91) 19 (66) 16 (61) 13 (55) 5 (41) 15 6 Jun 36 Jul 40 Aug 32 (90) 26 (79) 22 (72) 19 (66) 7 (45) 17 9 Sep 34 (93) 23 (73) 20 (68) 16 (61) 10 (50) 16 10 Oct 31 (88) 19 (66) 16 (61) 13 (55) 1 (34) 17 12 Nov 30 (86) 16 (61) 12 (54) 9 (48) 1 (34) 18 14 Dec Year 28 40
(F) (72) (72) Average high C 7 8 (47) 6 (44) 4 (40) -5 (23) 14 12
(97) (100) 22 (73) 20 (69) 17 (64) 8 (48) 11 8 25 (77) 22 (73) 20 (69) 13 (57) 11 8
(72) (100) 9 (49) 7 (46) 5 (42) -1 (30) 15 10 16 (62) 14 (58) 11 (53) -6 (21) 153 9
(F) (73) (79) Average high C 10 11 (52) 7 (45) 4 (39) -7 (19) 18 13
(97) (104) 23 (73) 20 (68) 17 (63) 6 (43) 16 10 26 (79) 22 (72) 19 (66) 11 (52) 17 9
(82) (104) 12 (54) 9 (48) 6 (43) -6 (21) 19 16 18 (64) 14 (58) 12 (54) -7 (19) 208 12
(F) (46) Daily mean C 6
(F) (50) Daily mean C 7
(F) (43) Average low C (F) Record low C (F) Average Precipitation (Days) Average Wind Speed (mph) 3 (39) -6 (21) 15 10
(F) (45) Average low C (F) Record low C (F) Average Precipitation (Days) Average Wind Speed (mph) 4 (39) -5 (23) 20 16
AnAkliA
BATuMi
Climate: Average Monthly C: Annual Precipitation: sunshine annual hr: Peak seasons Months:
subtropical January: +5.4 C August: +22.9 C 1537mm 2200 hr April-november
Climate: Average Monthly C: Annual Precipitation: sunshine annual hr:
lush subtropical January: +7 C August: +22 C 2718mm 1958 hr
Mild and humid coastal climate can be used as natural medical remedy or as part of climatic therapy for children with chronic respiratory diseases. Winter often sees continuous winds blowing, mainly in one direction (monsoon winds). The typical feature is rather high air humidity.
The citys climate is heavily influenced by the onshore flow from the Black sea and is subject to the orographic effect of the nearby hills and mountains, resulting in significant rainfall throughout most of the year, making Batumi the wettest city in both Georgia and the entire Caucasus region.
Climate conditions in Anaklia benefit from much higher number of sunshine hours and significantly less precipitation than in Batumi. in fact, Anaklia region is considered to be the most tourist-friendly sea resort in Georgia in terms of climate.
Anaklia, as a tourist destination has great potential to attract local and international visitors due to rapidly developing infrastructure and a wide choice of sightseeing and tourist activities within 60 km of the resort. The resort is surrounded by the breathtaking backdrop of the Black sea and the kolkheti national Park, which embraces the land of the former kolkheti state nature reserve and its surrounding wetlands (including lake Paliastomi), and many other tourist attractions. MuseuMs Dadiani royal Palace history-architecture museum History-ethnography museum of Tsalendjikha regional museum of Chkhorotskhu regional museum of khobi Poti museum of kolkhian Culture nokalakevi archeology museum-reserve nATure AnD lAnDsCAPes kolkheti national Park Caves (khobi, Martvili,
Tsalendjikha)
AnCienT kolkHiAn eTHno -VillAGe The project of kolkhian ethno-Village is going to be implemented approximately in 1,5 km from Anaklia zone. kolkhian ethno-Village will be exact copy of its ancient counterpart dated back to thousands of years.
Canyons Waterfalls recreational zones (Maltakva, Menji, nokalakevi, lebarde, Tsaishi)
lakes (Tobavarchili, Paliastomi, Vertskhli)
CulTurAl siGHTseeinG Archeopolice Tsikhe-Godji Dadianis royal Palace Martvili Monastery khobi Monastery Tsaishi Church rukhi Castle
TourisM ACTiViTies kayaking Canoeing Sport-fishing Bird-watching and many more !
10
11
A seaside resort in Anaklia will become the hub of the Black seaside. The lands that will be handed over to the investors are located along the boulevard designed by spanish architecture Alberto Domingo Cabo (CMD ingenieros, s.l.) PlAnneD DeVeloPMenTs Boulevard (4 km) Modern yacht club leisure Hotels 2 plots Casino Hotels 2 plots World class restaurants shopping centers Concert halls & theaters Pedestrian bridge A Modern Yacht Club
Boulevard is currently under construction
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AnAkliA - Free TourisM Zone
To further stimulate and support economic growth of the rapidly evolving area, Georgian government is offering unprecedented benefits to investors involved in the project. special Package for investors
land Hotel design projects Full engineering utility networks (water, electricity, gas) Corporate Profit tax exemption for 15 years Property tax exemption for 15 years Mineral water pipe supply for the new resort Casino license for hotel capacity over 80 rooms Georgian citizenship for foreign investors
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CoMPeTiTiVe MArkeT ADJArA reGion
A mountainous semi-autonomous region of Adjara is situated on the Black sea coast on Georgias southwestern border with Turkey. The regions narrow band of coastal lowland has a lush sub-tropical climate; while its high mountains see snow six months out of the year . Population: Capital: natural resources: industry: 400,000 Batumi citrus fruit, tobacco, tea oil refining, shipping, manufacturing, wine-making
HoTels in ADJArA reGion

Hotel name Sheraton IntouristPalace Hotel Georgia Palace Hotel Radisson Hyatt Hilton Kempinski Marina Sanapiro Hotel ERA hotel Alik Sputnik OASIS CAMEO TOTAL Status
done done done under constr. under constr. under constr. unknown done done done done done done done
Category 5* 5* 5* 5* 5* 5* 5* N/A N/A N/A N/A N/A N/A N/A
City Batumi Batumi Kobuleti Batumi Batumi Batumi Batumi Batumi Batumi Batumi Batumi Batumi Batumi Kvariati
Rooms
205 145 156 166 N/A 250 344 53 96 40 52 54 90 50 1701
Price $
209-570 100-2024 100-360 N/A N/A N/A N/A 40-135 30-100 88-189 81-135 20-120 55-80 108-162
Adjara is rapidly developing and dominates in FDi. With regard to supply of hotels, the local hotel market is expanding due to a growing demand. This is reflected in the number of pipeline projects and projects that were recently opened (e.g. sheraton, 5 star hotel).
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CoMPeTiTiVe MArkeT ADJArA reGion
nuMBer oF VisiTors To ADJArA BY TYPe
1000 800 600 400
554,2
662,3
974,6
source: Department of tourism and resorts/Autonomous republic of Adjara
Drastic growth of tourist arrivals to Adjara region and aggressive pace of infrastructure development positions Georgian sea cost as primary tourist and business destination on the Black sea. infrastructure development is continuously stimulated by aggressive growth of demand.
352,1
392,1
250,0
239,8
182,5
208,8
285,0
120,0
112,3
200 0
147,0
162,1
312,3
27,0
67,5
76,2
Domestic Visitors Foreign Visitors Total
2005
2006
2007
2008
2009
2010
15
CoMPeTiTiVe MArkeT
nuMBer VisiTors To ADJArA BY CounTrY oriGin

140000 120000 100000 80000 2009 60000
source: Department of tourism and resorts/ Autonomous republic of Adjara
TourisT eXPenDiTures in GeorGiA

2010
Iran Czech Republic Kazakhstan Poland Armenia Israel Ukraine Belarus
$748,00 $788,00 $800,00 $804,00 $816,00 $819,00 $917,00
$1 302,00 $1 479,00 $1 747,00 $2 027,00 $2 036,00 0 500 1000 1500 2000 2500
40000
Baltic Countries Azerbaijan
20000 0 Turkey Armenia Azerbaijan Ukraine Russia Other Countries
Japan Turkey
Average number of nights spent in Batumi 5.02 Purpose of visit leisure/ recreation Visiting friends or relatives Business or professional
Anaklia is very well positioned to benefit from increasing interest of neighboring countries to Georgian sea-side resorts and capitalize on heavily undersupplied hotel market of the region.
Average number of nights 5.03 5.55 4.61
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GAMBlinG inDusTrY
Casino gambling has always been a unique source of entertainment for its customers. in eMeA, casino gaming revenues will rise to $19.7 billion in 2014 from $17.3 billion in 2009, with compound annual increase of 2.6 %, dominated by Western europe, accounted for 76.1% of total eMeA revenues. one of the most dramatic developments in eMeA in 2009 and 2010 was the collapse of the russian market (generated revenues in 2008 $2.9 billion), which was essentially shut down by regulatory changes in the latter half of 2009, as the remaining casino operations were closed and no new ones opened. in addition, gambling is partially or completely banned in kazakhstan, Turkey, israel, iran, iraq, Azerbaijan, ukraine (temporarily). Those countries can be considered as neighbors to Georgia, since time of travel would not exceed 2-3 hours by air. Georgia and Anaklia in particular, is strategically located to fill up the gap in supply to high/middleprofile gamblers from above jurisdictions.
CounTries WHere GAMBlinG is CoMPleTelY or PArTiAllY ProHiBiTeD Countries where the gambling is prohibited 1 2 3 4 5 6 7 8 9 russia ukraine kazakhstan Azerbaijan Turkey iran iraq syria Jordan Population in millions 141.90 45.70 16.40 8.20 76.80 72.40 28.90 21.70 6.20 28.70 7.20 454.10
source: www.worldatlas.com
10 saudi 11 israel Total
legislation in surrounding countries prevents people from enjoying gambling facilities, but Anaklia will provide them with high quality gambling experience similar to world class gambling destination as las Vegas or Monte Carlo easy access by land, sea and Air makes Anaklia attractive gambling destination for all above countries and beyond.
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AnAkliA - resorT HoTel ProJeCTs
AnAkliA-ProJeCTs
solD
ouT
The Government of Georgia offers investors 4 hotel projects with excellent business terms and great benefits for the next 15 years. Plots for the construction of 4 new hotels are prepared and included in the Anaklia Free Tourism Zone. All of the hotels are located along the coast, which is framed by beautiful seaside boulevard, designed by a famous spanish architecture firm CMD ingenieros, s.l.
18
Projects include 4 concepts (plots) of the hotels and cover several categories of guests
economy/Budget Hotel 3 stars Mainly for local visitors # of rooms: 80 - 90
sports resort For local & international sports teams # of rooms: 70-80
upscale Hotel 5 stars Casino For local and international visitors # of rooms: 90-100
Midscale Hotel 4 stars Casino For local and international visitors # of rooms: 70-80
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PloT 1- eConoMY/BuDGeT HoTel, 3 sTArs

BuDGeT/eConoMY HoTel 3* economy Hotel 3 star, mainly intended for local visitors and tourists from the neighboring countries, such as Turkey, Azerbaijan and Armenia. This product is a best fit for a family vacations at affordable price and transit travelers. ProPerTY sPeCiFiCATions Building size: 4760 m2 usable area 4000 m2 sanitary unit and lobby included 760 m2 number of rooms 80 - 90 number of Floors -10 one restaurant (indoor) Parking Playground Fountain with Pool open Bar open Caf lawns swimming Pool (open ) Children playground serViCes ProViDeD 3 times meals Free access to pool Free access to outdoor facilities Gift shops
20
21
PloT 2- sPorTs resorT

sPorTs resorT 3* Year-round sports resort positioned for local and international sports teams for recreational and training purposes. ProPerTY sPeCiFiCATions Building size 4010 m2 usable area 2800 m2 Public areas 1210 m2 number of rooms 70-80 number of Floors 8 Two sports fields / sports grounds indoor pool 50 m (open roof in summer) indoor gym 3 meeting rooms Dinner hall sports equipment sports area for mini football, tennis, basketball (roofed) sauna sports equipment shop lawns Parking serViCes ProViDeD 3 times meals Free sauna Massage treatment Free Fitness facilities Free sports facilities indoor/outdoor First Aid and Medical services
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23
PloT 3 - MiDsCAle resorT-CAsino HoTel, 4 sTArs
ProPerTY sPeCiFiCATions land Plot size 5800 m2 number of rooms 70-80 room size ~ 28-30m2 number of Floors 12 Casino restaurants with terraces open Bar/Caf 2-3 Meeting rooms serViCes ProViDeD recreation Facilities Fitness facilities sauna Whirlpool Aerobics Massage MiDsCAle resorT HoTel 4* WiTH CAsino Midscale resort Hotel 4* with casino is intended for tourists from around the world who prefer to combine affordable and comfortable stay with gambling and other benefits of resort hotel. other services 24-hour room service Concierge service safety deposit at the reception Airline reservations Airport shuttle service
open swimming pool Gym lawn Playground Parking Private Beach
Business services Wi-Fi/internet connection Fax Printer/scanning
Dry cleaning/laundry/ Parking facilities Gift shops Conference/Banquet Facilities
24
25
PloT 4 - uPsCAle resorT-CAsino HoTel, 5 sTArs
uPsCAle resorT-CAsino HoTel 5* upscale resort Hotel 5* with casino is intended for tourists from around the world who prefer to combine luxurious and comfortable stay with gambling and other benefits provided by the sea-side resort. ProPerTY sPeCiFiCATions land Plot size 6725 m2 Building size 8949 m2 # of rooms 90-100 room size ~ 32 35 m2 number of Floors 6 2-3 Meeting rooms serViCes ProViDeD recreation Facilities Fitness facilities sauna Whirlpool Aerobics Massage Windsurfing equipment swimming Pool (open) open pool & Bar restaurants with terraces Dinner Hall roof-top outdoor cafe Casino Business services Wi-Fi internet Fax scanning Full secretarial services Courier service Fountain with Pool lawn Playground Parking Private Beach small shopping center other services 24-hour room service Turndown service Concierge service safety deposit box Dry cleaning/laundry/ Airline reservations Airport shuttle service Parking facilities Gift shops Conference/Banquet Facilities
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27
ProJeCT / FinAnCiAl DATA & ProJeCTions
BuDGeT-eConoMY HoTel, 3* - DeVeloPMenT CosTs/CAPeX
The CAPeX assumptions are benchmarked to the hotel development costs in Turkey with adjustments to cost of labor in Georgia and price inflation of building materials and equipment. economy resort Hotel 3* number of rooms Development cost per room
90 64 853 usD
ConsTruCTion BuDGeT BreAkDoWn

CAPEX Budget Item Site and area improvements Construction Works Technical Equipment FF&E OS&E Soft costs Pre Opening & Working Capital Total Hotel Development Cost $ Cost USD 350,206 2,509,809 1,517,559 583,676 233,471 466,941 175,103 5,836,765 % 6% 43% 26% 10% 4% 8% 3% 100%
(Basic data is sourced from 2009 eMeA Hotels Monitor report by Cushman & Wakefield Hospitality, EC Harris & STR Global, and KPMG Hotel development costs 2009 in Cee)
Comment
Alterations to land that enhance the utility of any structure placed on a site (e.g. drainage, fencing, utilities, landscaping, etc.) Direct Direct and indirect costs, associated with the physical construction and erection of a hotel building (e.g. bricks and mortar, labor costs, etc.) Installation of air conditioners, elevators, heating systems, pipelines and networks, etc. Furniture, Fixtures and Equipment and includes all furniture for guestrooms and public areas, wall and floor coverings, etc. Operating Supplies & Equipment and includes linen, kitchenware, uniforms, supplies, stationary, accessories, etc. Fees for architect design, planning, obtaining licenses, advisory services,etc. Includes marketing, staff, training, initial working capital, etc. prior to the opening of the hotel property.
28
BuDGeT-eConoMY HoTel, 3* - P&l ProJeCTions

Budget/Economy Hotel P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Hotel Statistics Year Quantity of Rooms Occupancy rate Average Rate in USD, excluding VAT RevPAR (Revenue per available room) P&L Projection ('000 of USD) Year Room Revenue F&B Revenue Business Center & Communications Revenue Conference Halls Revenue Total Revenues Room Payroll and Other Operating Expenses F&B Cost of Sales and other Expenses Business Center & Communications Expenses Conference Hall Cost of Sales and Other Operating Expens Total Expenses Total Gross Profit From Hotel Operations Profit from other rentals Total Undistributed Expenses* Total Gross Owners Return Bank Loan Interest Payment Bank Loan Principal Payment Income Before Corporate Profit Tax**** Corporate income tax ** Corporate income tax exemption *** Net Income Total Gross Owners Return Margin Ratios Gross profit margin from hotel operations EBIT margin Net profit margin IRR (Internal Rate of Return) PBP (Payback Period - years) 2011 90 47% 70 33 2012 90 52% 73 38 2013 90 52% 76 39 2014 90 52% 79 41 2015 90 52% 82 43 2016 90 52% 85 44 2017 90 52% 89 46 2018 90 52% 92 48 2019 90 52% 96 50 2020 90 52% 100 52
2011 1,083 541 1,624 (97) (271) (368) 1,256 (311) 945 945 (142) 142 945 58% 77% 58% 58% 15% 5.36
2012 1,246 623 1,868 (112) (315) (427) 1,442 (358) 1,084 1,084 (163) 163 1,084 58% 77% 58% 58%
2013 1,295 648 1,943 (117) (327) (444) 1,499 (372) 1,127 1,127 (169) 169 1,127 58% 77% 58% 58%
2014 1,347 674 2,021 (121) (340) (461) 1,559 (428) 1,132 1,132 (170) 170 1,132 56% 77% 56% 56%
2015 1,401 701 2,102 (126) (354) (480) 1,622 (445) 1,177 1,177 (177) 177 1,177 56% 77% 56% 56%
2016 1,457 729 2,186 (131) (368) (499) 1,687 (462) 1,224 1,224 (184) 184 1,224 56% 77% 56% 56%
2017 1,515 758 2,273 (136) (383) (519) 1,754 (481) 1,273 1,273 (191) 191 1,273 56% 77% 56% 56%
2018 1,576 788 2,364 (142) (398) (540) 1,824 (484) 1,340 1,340 (201) 201 1,340 57% 77% 57% 57%
2019 1,639 820 2,459 (148) (414) (561) 1,897 (504) 1,393 1,393 (209) 209 1,393 57% 77% 57% 57%
2020 1,705 852 2,557 (153) (430) (584) 1,973 (541) 1,432 1,432 (215) 215 1,432 56% 77% 56% 56%
* Includes: Administrative and General, Marketing, Maintenance, Utilities, Franchise Fee, Incentive Fee and FF&E replacement costs ** Corporate Tax rate of 15% applies *** Corporate Tax exepmtion rate of 15% applies
29
sPorTs resorT HoTel - DeVeloPMenT CosTs/CAPeX
The CAPeX assumptions are benchmarked to the hotel development costs in Turkey with adjustments to cost of labor in Georgia and price inflation of building materials and equipment. sports resort Hotel number of rooms Development cost per room
80 74 194 usD
ConsTruCTion BuDGeT BreAkDoWn

CAPEX Budget Item Site and area improvements Construction Works Technical Equipment FF&E OS&E Soft costs Pre Opening & Working Capital Total Hotel Development Cost $ Cost USD 357,919 2,505,433 1,610,636 536,879 238,613 477,225 208,786 5,935,491 % 6% 42% 27% 9% 4% 8% 4% 100%
Comment
30
sPorTs resorT HoTel - P&l ProJeCTions

Sports Resort Hotel P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Hotel Statistics Year Quantity of Rooms Occupancy rate Average Rate in USD, excluding VAT RevPAR (Revenue per available room) P&L Projection ('000 of USD) Year Room Revenue F&B Revenue Business Center & Communications Revenue Conference Halls Revenue Total Revenues Room Payroll and Other Operating Expenses F&B Cost of Sales and other Expenses Business Center & Communications Expenses Conference Hall Cost of Sales and Other Opera Total Expenses
Total Gross Profit From Hotel Operations Profit from other rentals Total Undistributed Expenses* Total Gross Owners Return Bank Loan Interest Payment *** Bank Loan Principal Payment Income Before Corporate Profit Tax**** Corporate income tax fees ** Corporate income tax exemption *** Net Income Total Gross Owners Return Margin Ratios Gross profit margin EBIT margin Net profit margin IRR (Internal Rate of Return) PBP (Payback Period - years)
2011 80 65% 65 42 2011 1,234 740 1,974 (111) (370) (481)

1,493 (396) 1,096 1,096 (164) 164 1,096 56%
2012 80 66% 68 45 2012 1,303 782 2,084 (117) (395) (512)

1,572 (418) 1,154 1,154 (173) 173 1,154 55%
2013 80 66% 70 46 2013 1,355 813 2,168 (122) (411) (532)

1,635 (435) 1,200 1,200 (180) 180 1,200 55%
2014 80 66% 73 48 2014 1,409 845 2,255 (127) (427) (554)

1,701 (475) 1,226 1,226 (184) 184 1,226 54%
2015 80 66% 76 50 2015 1,465 879 2,345 (132) (444) (576)

1,769 (494) 1,275 1,275 (191) 191 1,275 54%
2016 80 66% 79 52 2016 1,524 914 2,439 (137) (462) (599)

1,840 (514) 1,326 1,326 (199) 199 1,326 54%
2017 2018 2019 2020 80 80 80 80 66% 66% 66% 66% 82 86 89 93 54 56 59 61 2017 1,585 951 2,536 (143) (480) (623)
1,913 (534) 1,379 1,379 (207) 207 1,379 54%
2018 2019 1,648 1,714 989 1,029 2,638 2,743 (148) (499) (648)
1,990 (538) 1,451 1,451 (218) 218 1,451 55%
2020 1,783 1,070 2,853 (160) (540) (701)

2,152 (601) 1,551 1,551 (233) 233 1,551 54%
(154) (519) (674)

2,069 (560) 1,509 1,509 (226) 226 1,509 55%
76% 56% 56% 17% 5.076
75% 55% 55%
75% 55% 55%
75% 54% 54%
75% 54% 54%
75% 54% 54%
75% 54% 54%
75% 55% 55%
75% 55% 55%
75% 54% 54%
* Includes: Administrative and General, Marketing, Maintenance, Utilities, Franchise Fee, Incentive Fee and FF&E replacement costs ** Corporate Tax rate of 15% applies *** Corporate Tax exepmtion rate of 15% applies
31
MiDsCAle CAsino-resorT HoTel - DeVeloPMenT CosTs/CAPeX
HoTel ConsTruCTion BuDGeT BreAkDoWn

CAPEX Budget Item Site and area improvements Construction Works Technical Equipment FF&E OS&E Soft costs Pre Opening & Working Capital Total Hotel Development Cost $ Cost USD 374,706 3,447,294 1,798,588 824,353 149,882 749,412 149,882 7,494,118 % 5% 46% 24% 11% 2% 10% 2% 100% Comment
32
The CAPeX assumptions are benchmarked to the hotel development costs in Turkey with adjustments to cost of labor in Georgia and price inflation of building materials and equipment. Midscale Casino-resort Hotel number of rooms Development cost per room
CAsino eQuiPMenT BuDGeT BreAkDoWn *

Number Of Tables Number of slot machines Casino Equipment Live casino tables 122,500 45,400 92,700 120,000 963,720 200,000 $ 1,544,320 8% 3% 6% 8% 62% 13% 100% 14 60
80 93 676 usD
CCTV and Surveillance Gaming Accessories Software and Technical Equipment Slot machines Pre Opening & Working Capital Total Casino Equipment Cost
* Casino construction, engineering and gaming floor interior costs are included in Hotel CAPeX costs.
33
MiDsCAle CAsino-resorT HoTel - P&l ProJeCTions

Midscale Hotel P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Hotel Statistics
Year 2011
80 50% 90 45
2012
80 53% 94 50
2013
80 53% 97 52
2014
80 53% 101 54
2015
80 53% 105 56
2016
80 53% 109 58
2017
80 53% 114 61
2018
80 53% 118 63
2019
80 53% 123 66
2020
80 53% 128 68
Quantity of Rooms Occupancy rate Average Rate in USD, excluding VAT RevPAR (Revenue per available room)
P&L Projection ('000 of USD)

Year
Room Revenue F&B Revenue Business Center & Communications Revenue Conference Halls Revenue Total Revenues Room Payroll and Other Operating Expenses F&B Cost of Sales and other Expenses Business Center & Communications Expenses Conference Hall Cost of Sales and Other Operating Expenses Total Expenses Total Gross Profit From Hotel Operations Profit from other rentals Total Undistributed Expenses*
Total Gross Owners Return
2011
1,303 417 39 55 1,814 (137) (227) (11) (13) (388) 1,426 (367)
1,059
-
2012
1,458 466 44 58 2,025 (160) (268) (11) (18) (458) 1,568 (409)
1,159
-
2013
1,516 485 45 60 2,106 (167) (279) (12) (19) (476) 1,630 (425)
1,205
-
2014
1,577 505 47 62 2,191 (173) (290) (12) (19) (495) 1,695 (464)
1,232
-
2015
1,640 525 49 65 2,278 (180) (302) (13) (20) (515) 1,763 (482)
1,281
-
2016
1,705 546 51 67 2,369 (188) (314) (13) (21) (536) 1,834 (502)
1,332
-
2017
1,773 568 53 70 2,464 (195) (326) (14) (22) (557) 1,907 (522)
1,386
-
2018
1,844 590 55 73 2,563 (203) (339) (14) (23) (579) 1,983 (525)
1,458
-
2019
1,918 614 58 76 2,665 (211) (353) (15) (24) (602) 2,063 (547)
1,516
-
2020
1,995 638 60 79 2,772 (219) (367) (16) (25) (627) 2,145 (587)
1,559
-
Bank Loan Interest Payment Bank Loan Principal Payment

EBIT
1,059
1,159
1,205
1,232
1,281
1,332
1,386
1,458
1,516
1,559
Corporate Income Tax ** Corporate Income Tax exemption ***

Net Income Consolidated Net Income IRR PBP
(159) 159
1,059 1,713 18% 4.5
(174) 174
1,159 1,928
(181) 181
1,205 1,974
(185) 185
1,232 2,001
(192) 192
1,281 2,050
(200) 200
1,332 2,101
(208) 208
1,386 2,154
(219) 219
1,458 2,227
(227) 227
1,516 2,285
(234) 234
1,559 2,327
* Includes: Administrative and General, Marketing, Maintenance, Utilities, Franchise Fee, Incentive Fee and FF&E replacement costs, etc ** Corporate Tax rate of 15% applies *** Corporate Tax exepmtion rate of 15% applies
34
CASINO P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Casino Statistics
Year 2011
18,822 7,529 1,882 6,776 8,470 15,246 9,147 6,098
2012
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2013
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2014
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2015
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2016
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2017
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2018
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2019
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
2020
20,245 8,098 2,025 7,288 9,110 16,399 9,839 6,559
N of visitors to Hotel Individual Visitors Gambling tour visitors Average drop from individual Visitors Average Drop of Gambling tour visitor Total Drop Drop from table operations Drop from slot operations
P&L Projection ('000 of USD)

Year
Revenue from table operations Revenue from slot operations F&B Revenue Total Revenues Gambling tour operation expenses Payroll expense F&B Cost of sales Total Expenses Total Gr.Profit Casino Operations Total Undistributed Expenses* Tax on table Tax on slot machine Annual casino Licence Fee
EBIT
2011
2,287 732 706 3,724 1,174 438 212 1,823
1,901
2012
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2013
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2014
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2015
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2016
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2017
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2018
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2019
2,460 787 759 4,006 1,263 471 228 1,961
2,045
2020
2,460 787 759 4,006 1,263 471 228 1,961
2,045
(372) (593) (282) 653
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
(401) (593) (282) 769
Corporate Income Tax ** Corporate Income Tax exemption ***

Net Income
(98) 98
653
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
(115) 115
769
35
uPsCAle CAsino-resorT HoTel - DeVeloPMenT CosTs/CAPeX
HoTel ConsTruCTion BuDGeT BreAkDoWn

CAPEX Budget Item Site and area improvements Construction Works Technical Equipment FF&E OS&E Soft costs Pre Opening & Working Capital Total Hotel Development Cost $ Cost USD 554,853 4,438,824 3,329,118 1,442,618 443,882 665,824 221,941 11,097,059 % 5% 40% 30% 13% 4% 6% 2% 100% Comment
36
The CAPeX assumptions are benchmarked to the hotel development costs in Turkey with adjustments to cost of labor in Georgia and price inflation of building materials and equipment. upscale Casino-resort Hotel number of rooms Development cost per room
CAsino eQuiPMenT BuDGeT BreAkDoWn *

Number Of Tables Number of slot machines Casino Equipment Live casino tables 122,500 45,400 92,700 120,000 963,720 200,000 $ 1,544,320 8% 3% 6% 8% 62% 13% 100% 14 60
100 110 971 usD
CCTV and Surveillance Gaming Accessories Software and Technical Equipment Slot machines Pre Opening & Working Capital Total Casino Equipment Cost
* Casino construction, engineering and gaming floor interior costs are included in Hotel CAPeX costs.
37
uPsCAle CAsino-resorT HoTel - P&l ProJeCTions

Upscale Hotel P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Hotel Statistics Year Quantity of Rooms Occupancy rate Average Rate in USD, excluding VAT RevPAR (Revenue per available room) P&L Projection ('000 of USD) Year Room Revenue F&B Revenue Business Center & Communications Revenue Conference Halls Revenue Total Revenues Room Payroll and Other Operating Expenses F&B Cost of Sales and other Expenses Business Center & Communications Expenses Conference Hall Cost of Sales and Other Operating Expenses Total Expenses Total Gross Profit From Hotel Operations Profit from other rentals Total Undistributed Expenses* Total Gross Owners Return Bank Loan Interest Payment Bank Loan Principal Payment EBIT Corporate Income Tax ** Corporate Income Tax exemption *** Net Income 1,834 (275.14) 275.14 1,834 2011 100 50% 130 64 2012 100 53% 135 72 2013 100 53% 141 75 2014 100 53% 146 78 2015 100 53% 152 81 2016 100 53% 158 84 2017 100 53% 164 88 2018 100 53% 171 91 2019 100 53% 178 95 2020 100 53% 185 99
2011 2,353 753 71 122 1,584 (318) (437) (20) (27) (801) 2,497 (662) 1,834 -
2012 2,632 842 79 127 1,715 (342) (514) (21) (29) (905) 2,775 (739) 2,036 2,036 (305.46) 305.46 2,036
2013 2,737 876 82 132 1,784 (356) (534) (21) (30) (941) 2,886 (768) 2,118 2,118 (317.68) 317.68 2,118
2014 2,847 911 85 137 1,855 (370) (556) (22) (31) (979) 3,001 (839) 2,163 2,163 (324.41) 324.41 2,163
2015 2,961 947 89 143 1,929 (385) (578) (23) (32) (1,018) 3,121 (872) 2,249 2,249 (337.39) 337.39 2,249
2016 3,079 985 92 148 2,006 (400) (601) (24) (33) (1,059) 3,246 (907) 2,339 2,339 (350.89) 350.89 2,339
2017 3,202 1,025 96 154 2,087 (416) (625) (25) (35) (1,101) 3,376 (943) 2,433 2,433 (364.92) 364.92 2,433
2018 3,330 1,066 100 160 2,170 (433) (650) (26) (36) (1,145) 3,511 (950) 2,561 2,561 (384.16) 384.16 2,561
2019 3,463 1,108 104 167 2,257 (450) (676) (27) (38) (1,191) 3,652 (988) 2,664 2,664 (399.53) 399.53 2,664
2020 3,602 1,153 108 174 2,347 (468) (703) (28) (39) (1,238) 3,798 (1,061) 2,737 2,737 (410.49) 410.49 2,737
Consolidated Net Income IRR PBP
2,598 20% 4.7
2,924
3,005
3,050
3,137
3,227
3,320
3,449
3,551
3,624
* Includes: Administrative and General, Marketing, Maintenance, Utilities, Franchise Fee, Incentive Fee and FF&E replacement costs, etc ** Corporate Tax rate of 15% applies *** Corporate Tax exepmtion rate of 15% applies
38
Upscale CASINO P&L Projections (IFRS Based, Unaudited) P&L Amounts indicated in thousands of USD except for room rates and RevPAR Casino Statistics Year N of visitors to Hotel Individual Visitors Gambling tour visitors Average drop from individual Visitors Average Drop of Gambling tour visitor Total Drop Drop from table operations Drop from slot operations P&L Projection ('000 of USD) Year Revenue from table operations Revenue from slot operations F&B Revenue Total Revenues Gambling tour operation expenses Payroll expense F&B Cost of sales Total Expenses Total Gr.Profit Casino Operations Total Undistributed Expenses* Tax on table Tax on slot machine Annual casino Licence Fee EBIT Corporate Income Tax ** Corporate Income Tax exemption *** Net Income 2011 23,527 9,411 2,353 14,116 18,234 32,350 19,410 12,940 2012 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2013 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2014 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2015 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2016 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2017 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2018 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2019 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919 2020 25,307 10,123 2,531 15,184 19,613 34,797 20,878 13,919
2011 4,853 1,553 6,405 2,527 1,025 318 3,870 2,536 (897) (593) (282) 764 (115) 115 764
2012 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2013 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2014 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2015 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2016 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2017 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2018 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2019 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
2020 5,220 1,670 6,890 2,718 1,102 342 4,162 2,727 (965) (593) (282) 888 (133) 133 888
39
ProJeCT FinAnCiAls - suMMArY
Project title Economy Budget Hotel Sports Resort Hotel
# of rooms 90 80 80 100
CAPEX 5,836,765 USD 5,935,491 USD 9,038,438 USD 12,641,379 USD
EBIT margin(1st year) 58% 56% 47% 43%
IRR 15% 17% 18% 20%
PBP
years
5.36 5.08 4.5 4.7
Middle-scale Casino Hotel * Up-scale Casino Hotel *
* CAPEX, EBIT, IRR and PBP are calculated based on consolidated figures for Hotel and Casino Operations
Significant undersupply of 3-4 stars hotel rooms on Georgian resort hotel market, growing demand for accommodations of international standards, excellent climate conditions, unprecedented investor package from the Government, possibility to start operations/generate cash in 12-15 month, opportunity for natural growth of real estate prices, relatively low project CAPEX requirements, attractive profitability margins, high return on investment and flexible options of exit strategy these are few points that makes Anaklia projects interesting and truly exciting. These are advantages that position Anaklia projects at the top of agenda for potential investors interested in real estate and Tourism sector of Georgia.
40
ConTACT inForMATion
George Tsikolia - Deputy Director Tel.: +995 322 106 392 e-mail: g.tsikolia@investingeorgia.org Zurab Zedelashvili - investment Projects Coordinator Tel.: +995 322 433 433 e-mail: zurabz@investingeorgia.org Georgian national investment Agency Ministry of economy and sustainable Development of Georgia 12 chanturia str. 0108 tbilisi, Georgia Tel.: +995 322 433 433 e-mail: info@investingeorgia.org evgeni (iva) Davitaia - Partner iva.davitaia@umc.ge Dasha soldak - Analyst dasha.soldak@umc.ge umbrella Management & Consulting 14b, 3 floor, Al. Kazbegi str., Tbilisi, 0160 Georgia Tel.: +995 322 60 91 91 Fax: +995 322 60 91 91 e-mail: info@umc.ge Prepared by umbrella Management and Consulting exclusively for Georgian national investment Agency
www.investingeorgia.org
Georgian National Investment Agency www.investingeorgia.org +995 322 433 433 info@investingeorgia.org

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AnAkliA TourisM Zone

eConoMY & TourisM seCTor / oVerVieW

* source: Geostat.ge preliminary data

GDP (PPP) 2010*:

Inflation 2010 (CPI): FDI Inflow: unemployment rate:

eConoMY & TourisM seCTor / oVerVieW

GDP Per CAPiTA (PPP)

AnnuAl reAl GDP GroWTH rATe

2009 2010E -3.8%

source: www. geostat.ge

source: www. geostat.ge

eConoMY & TourisM seCTor / oVerVieW

eConoMiC FreeDoM CoMPonenT sCores

73.9 90.8 50 70 30 20 73.6

80.8 88.4 60 70 30 23 99.9

86.6 74.6 70 60 35 34 99.4

87.9 65.3 30 50 40 39 93.7

eConoMY & TourisM seCTor / oVerVieW

TourisM seCTor ouTlook

TrAVel & TourisM CoMPeTiTiVeness inDeX 2011

inTernATionAl ArriVAls To GeorGiA

T&Tregulatory framework overall index

3,65 3,00 2,03 0,98 0,3

1,50 50% 33%

2011E 2012E 2013E

eConoMY & TourisM seCTor / oVerVieW

MosT VisiTeD TourisT DesTinATions in GeorGiA , 3Q 2010 *

eConoMY & TourisM seCTor / oVerVieW

TourisM seCTor ouTlook

PurPose oF VisiT To GeorGiA 2010

Average number of nights 6.20 5.63 4.98

source: Georgian national Tourism Agency

To be employed by a Georgian organization

Buying goods with the aim of resale

Transit on the way to another country

Shopping, buying goods with the aim of consumption

Holidays, leisure, recreation

Health and medical care

eConoMY & TourisM seCTor / oVerVieW

AnAkliA TourisM DesTinATion

AnAkliA Free TourisTiC Zone / oVerVieW

CliMATe CoMPArison - BATuMi Vs AnAkliA

Climate data for Batumi

(F) (72) (72) Average high C 7 8 (47) 6 (44) 4 (40) -5 (23) 14 12

(F) (73) (79) Average high C 10 11 (52) 7 (45) 4 (39) -7 (19) 18 13

(F) (46) Daily mean C 6

(F) (50) Daily mean C 7

subtropical January: +5.4 C August: +22.9 C 1537mm 2200 hr April-november

Climate: Average Monthly C: Annual Precipitation: sunshine annual hr:

lush subtropical January: +7 C August: +22 C 2718mm 1958 hr

AnAkliA Free TourisTiC Zone / oVerVieW

AnAkliA TourisM DesTinATion

Canyons Waterfalls recreational zones (Maltakva, Menji, nokalakevi, lebarde, Tsaishi)

lakes (Tobavarchili, Paliastomi, Vertskhli)

TourisM ACTiViTies kayaking Canoeing Sport-fishing Bird-watching and many more !

AnAkliA Free TourisTiC Zone / oVerVieW

AnAkliA TourisM DesTinATion

AnAkliA Free TourisTiC Zone / oVerVieW

AnAkliA Free TourisTiC Zone / oVerVieW

AnAkliA TourisM DesTinATion

AnAkliA Free TourisTiC Zone / oVerVieW

AnAkliA - Free TourisM Zone

AnAkliA Free TourisTiC Zone / oVerVieW