Hotels & Commercial
The group’s hospitality and workspace position — anchored by Terminal, the No.1 co-working chain in the Caucasus.
THE THESIS
Centora pairs flexible workspace with boutique hospitality. Terminal contributes recurring, corporate-heavy workspace revenue across seven branches; The Grove Design Hotel adds 39 rooms in historic New Tiflis. Together they anchor the group’s operating exposure to Georgia’s commercial property market.
INSIDE THE VERTICAL
Terminal is the larger position. Seven branches across Tbilisi’s key districts and the Black Sea coast at Batumi hold 9,450 sqm of space: 1,000+ desks, 58 private offices and 32 meeting rooms serving 1,250+ members and hosting 793 community events a year. It opened Georgia’s first co-working space, Vere Loft, in 2016, grew sales 370% between 2019 and 2022, and has been named Best Co-Working Space at the Euro Asia Startup Awards.
The Grove Design Hotel is the hospitality side: a 4-star boutique property of 39 rooms in six styles at the foot of Queen Tamar Bridge in historic New Tiflis, with restaurant, gym, lounge and common terrace across a 1,966 sqm building. Its Public-Business Zone 2 designation and K2 coefficient of 4.6 leave room to add a further 600 sqm over two floors.
