Force Majeure clauses in agreements used to be all but formality for years, until the 2020 global pandemic. Now that we’re rounding 9 months since WHO announced COVID-19 outbreak a pandemic, we’re all just starting to come to terms with the new normal. Over the past year, the hospitality industry was hit hard. With borders closed or restricted globally, travel decreased dramatically, causing many properties and hotel operators to come into distress.
Ana wears many hats at Ruebush Hospitality Group, and she takes great pleasure in making sure all aspects of our business run smoothly, coexist in harmony, and nurture each other. She's a lover, adventurer, and incompetent coffee drinker.
The possibility of owning a hotel room is still a pretty novel concept for a lot of investors, and over the past few weeks we’ve had a lot of questions about what the ownership model actually looks like. Are you buying a share of the hotel room to become a co-owner? Are you buying a timeshare?
If you’re reading this, I’m taking an educated guess that you looking to make an investment that is going to deliver in yearly returns. I know this, because you’re not alone. According to a survey conducted by the Adjara Ministry of Finance and Economy in 2019, 66% of all investors buy real estate in Batumi for its future cash flow potential, rather than for personal accommodation.
Ruebush Hospitality Group started its business during the peak of the real estate boom in Batumi. We advised our clients in selecting optimal properties to invest in, we carried out all construction works, and provided a full rental management service. Well into our first year of operations we started to observe several factors that encouraged us to change strategy for future development and shift our focus from apartments to developing boutique hotels.