Batumi Georgia (European vacation town)
Anyone ever heard of Batumi which is a vacation town on the coast of the Black Sea in the republic of Georgia(A few kilometers from the Turkey border). We just came back this week (initially in Tbilisi) and the entire town is exploding with growth. Lots of hotels going up with investor opportunities. I’ve always been of the opinion that when someone is trying to sell you an investment, they are probably the ones making the money but in general, there are a lot of big corporate chains out there (Marriott as well as the ORBI group,). Some of these chains are offering complete management of cookie cutter and uniform style apartments (with their $$ cut of course) ranging anywhere from 45,000 to 100,000 per unit.
I’m just looking to see if anybody knows about this. If you’re not familiar with the area, please resist the temptation to chime in about something you may not know anything about as I can generate paragraphs and paragraphs of reasons why someone should NOT even consider this but would appreciate any potential relevant knowledge. Thanks