Georgia Capital - Financial Overview and Investment Opportunities
Private early
stage portfolio
Hospitality and commercial real estate business overview
Investment rationale
Market opportunity
Arrivals of tourists and tourism revenue | Georgia
Record number of tourists visiting Georgia every year:
1.9 million visitors in 1H18, up 23% y-o-y;
Tourism inflows up 24% y-o-y
Target ROICS ranging from 12.8% to 18% from hotels
◉
Value creation potential
Grow Portfolio of rent-earning assets through residential
developments/opportunistic acquisitions
Reach 1,000 hotel rooms over the next 3 years. Currently
approximately 942 rooms of which 152 are operational and c.
790 are in the pipeline
Value realisation outlook - spin-off yielding properties
as listed REITs managed by m²
(1) Hospitality & Commercial real estate business' functional currency is US dollars
GEORGIA
CAPITAL
Source: Georgian National Tourism Administration
4.1
3.3
2.9
2.9
3.0
2.5
2.8
1.8
1.9
2.2
1.7
1.8
1.9
1.6
1.4
1.4
1.1
1.0
2011
2012
2013
Arrivals of tourists (mln)
2014
2015
2016
2017
1H17
Tourism revenue(US$ bln)
1H18
Projected EBITDA through 20221 (GEL m)
54
31
35
89
72
2018
2019
2020
2021
2022
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