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Dividends declared (per SOCE filings): FY2016 0 · FY2017 250 · FY2018 307 — 3-yr total 557
City Loft LLC (სითი ლოფტი) is the holding company of Adjara Group, the hospitality and urban-development group founded in 2010 by Temur Ugulava (died June 2026), who owned City Loft outright. Adjara Group reports 15 buildings, 10 brands and ~1,700 staff: Rooms Hotels (Tbilisi, Batumi, Kazbegi, Abastumani), Stamba, Fabrika, Holiday Inn Tbilisi, Radio City (the former Mukhiani radio-plant site, via 100%-owned Industrial City LLC), Lolita, Shukura, Padel and the Udabno regenerative farm. City Loft also held 49% of Atlas LLC (404569944), the Adjarabet operator, after selling 51% to Paddy Power Betfair, now Flutter, on 1 February 2019 for £101m; the remaining 49% went to Flutter on 1 July 2022 for $251m. Filings cover FY2016-18 only, with 1,650 employees at the last one; FY2018 revenue ₾235m consolidates Adjarabet (₾215m that year), so the series is not a hospitality-only view. Adjara Group LLC files separately (205090890 to FY2021; 404676169 from FY2023).
Group parent — controls 1 company · ownership
| Line item | 2017 | 2018 | CAGR |
|---|---|---|---|
| Total Revenue | 160,270 | 235,123 | +46.7% |
| Total COGS | 5,000 | 10,184 | +103.7% |
| Gross Profit | 155,270 | 224,939 | +44.9% |
| Gross Margin | 96.9% | 95.7% | |
| 72,206 | 92,216 | +27.7% | |
| EBITDA | 83,064 | 132,723 | +59.8% |
| EBITDA Margin | 51.8% | 56.4% | |
| Total D&A | 6,002 | 10,604 | +76.7% |
| Impairment (non-financial) | 0 | 505 | |
| EBIT / Operating Income | 77,062 | 121,614 | +57.8% |
| Total Interest Income | 3,629 | 9,640 | +165.6% |
| Total Interest Expense | 12,048 | 18,711 | +55.3% |
| Total Other Income | 0 | 493 | |
| Profit Before Tax | 68,643 | 112,050 | +63.2% |
| Total Income Tax | 0 | 17 | |
| Net Profit / (Loss) | 20,529 | 48,653 | +137.0% |
| Net Margin | 12.8% | 20.7% |
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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