Amber Group opens its first in-house branded hotel

RNS Number : 7914W

Georgia Capital PLC

13 December 2019

 

                London, 13 December 2019

Amber Group opens its first in-house branded hotel in Gudauri

Georgia Capital PLC (the "Group" or "Georgia Capital") is delighted to announce that Amber Group, the Group's hospitality business, has opened  "Gudauri Lodge Hotel" (the "Hotel") - the first in-house branded hotel in the hospitality business portfolio.

The upscale resort Hotel is conveniently located on the slope with ski-in and ski-out facilities in Gudauri - a leading ski resort in the Caucasus region. Embracing Amber Group's focus on unique Georgian culinary and traditional Georgian winemaking, the 121-key Hotel features a signature restaurant and après ski bar along with sun terrace, indoor swimming pool, meeting room facilities and spectacular views of Caucasus mountains. Amber Group's investment in the Hotel, including the land value, totals US$ 14.6 million. The US$ Return on Invested Capital ("ROIC") is expected to be approximately 12%.

Irakli Gilauri, Georgia Capital Chairman and CEO commented: "I would like to congratulate Amber Group on achieving the first milestone in its in-house branded hotel development strategy. The business has made yet another step towards reaching its targeted 1,000 hotel room portfolio and now already has 273 operational rooms, with a further 949 rooms in the pipeline."

Name of authorised official of issuer responsible for making notification: Nino Rekhviashvili, Head of Investor Relations

About Georgia Capital PLC

Georgia Capital is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Group seeks to capture growth in the sectors in which it currently operates and drive the development of new high-growth businesses in Georgia, which it intends to add either by acquiring businesses in their early development stage or by establishing greenfield businesses, often consolidating fragmented or underdeveloped markets. The Group currently has six private company holdings: (i) a water utility business (GGU), (ii) a renewable energy business (GGU); (iii) a housing development business (m²)  (iv) a hospitality and commercial real estate business (m²); (v) a property and casualty insurance business (Aldagi) and (vi) a beverages business (Georgia Beverages). In addition Georgia Capital has two public company holdings (London Stock Exchange premium-listed Georgian companies): (i) Georgia Healthcare Group PLC ("GHG"), (57% equity stake), a UK incorporated holding company of the largest healthcare services provider in Georgia, which is also the largest pharmaceuticals retailer and wholesaler in the country; and (ii) Bank of Georgia Group PLC ("BoG"), (19.9% equity stake), a leading universal bank in Georgia. Additionally, Georgia Capital has three businesses in the pipeline: Education, Auto Service and Digital Services.

JSC Georgia Capital has, as of the date hereof, the following credit ratings:
S&P Global	'B+'/FC & 'B+'/LC
Moody's	B2/CFR & B2/PDR

 For further information, please visit www.georgiacapital.ge or contact: 

Irakli Gilauri	Giorgi Alpaidze	Nino Rekhviashvili
Chairman and Chief Executive	Chief Financial Officer	Head of Investor Relations
[e-mail]	[phone]	+ 995 322 005 045
	[e-mail]	[e-mail]

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities

 

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