Several articles from
http://www.commersant.ge/eng/index.p...ch&word=hilton discuss the opening of a Hilton property in Tbilisi. Apparently funding has been secured and a 22-year lease from Hilton has been signed. However there are delays due need to find alternate accommodation for the current property's housing of refugees, presumably Georgians displaced from Abkhazia and South Ossetia. The opening date is estimated as early 2014.
The 120-room hotel will be on the site of the former Hotel Sakartvelo. It's located on Melikishvili Street near the Philharmonic. This is just a bit northwest of the city centre in the rather nice neighbourhood Vere. From the hotel it would be a reasonably short walk to Rustaveli Metro station, the bar district, and the main shopping street Chavchavadze.
Here are some photos of the site: