- BGEO said Friday its real estate arm, m2 Real Estate, had acquired an under construction hotel in Gudauri for $7.2m.

The firm said the remaining construction works will be carried out by m2's construction arm, and expected to open the hotel in December 2018.

The Gudauri Hotel - located in Gudauri - would add at least 134 rooms to m2's portfolio, the firm said.

'm2 successfully continues to make progress towards its targeted 1,000 hotel room portfolio, over the next three years. With this acquisition, m2 has now reached approximately 760 rooms in its portfolio, of which 152 are operational and 608 are in the pipeline,' said Irakli Gilauri, BGEO CEO.

At 8:37am: [LON:BGEO] BGEO Group share price was +20p at 3428p

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