Rooms Hotel Prepares for European Expansion; Plans Bond Issuance

In a significant development, Rooms Hotel, a prominent Georgian hospitality brand and part of the Adjara Group, is planning to expand its operations into the European market by next year. Valery Checheria, the Executive Director of Rooms Hotel, shared these ambitious plans with "Business Partner."

The preliminary groundwork for this monumental expansion has already begun, with market research being carried out across various potential destinations. The brand is keenly eyeing several European markets, particularly Greece, Britain, and Italy, as the company prefers to venture into regions where it possesses a deep understanding of the market landscape.

Alongside these expansion plans, Rooms Hotel also intends to raise capital through the issuance of bonds denominated in the Georgian Lari (GEL). The company hopes that the funds raised will provide significant backing for its ambitious European venture. The exact volume of the issuance, however, will be announced in the fall, following close consultation with financial advisers from TBC Capital and Galt & Taggart.

"Initially, we will be issuing Lari bonds to accumulate the necessary funds," Checheria stated. "Our capacity to successfully raise the funds through these bonds will be critical for our expansion. We're currently working in collaboration with TBC Capital and Galt & Taggart to structure this process."

Under the umbrella of the Adjara Group, Rooms Hotel has established itself as a leading player in the management and development of hotel properties under the Rooms brand across Georgia. The upcoming European expansion signifies an exciting new chapter in the company's ongoing growth story. This strategic move reaffirms the brand's commitment to bringing their unique blend of hospitality to a wider global audience.