Capitol Management

What Capitol Management does

Capitol Management is a Georgian-Kazakh investment management company founded in 2014 and headquartered in Tbilisi, Georgia. The company manages a diversified portfolio of operating subsidiaries and projects across four sectors: real estate management (Capitol Real Estate, founded 2014), real estate development (Simetria, founded 2015), hospitality (Hotel Collection International Georgia joint venture, established 2016 with Spain-based HCI), and agriculture (Baraka Flour Mill, Bread Factory N1, Geo-Agro, and the Kalanda pig farming complex). Capitol Management sources investment capital from Kazakhstani institutional and private investors and pairs it with co-financing from Georgian banks including TBC Bank, Partnership Fund, Halyk Bank, BasisBank, and Bank of Georgia.

The company generates revenue through a combination of investment management fees from co-investment structures, proceeds from residential and commercial real estate sales (Simetria projects including Park, Lisi, Vake, and the under-development Jikia mixed-use complex with completion targeted for 2027), hotel operating income (Holiday Inn Express Tbilisi Avlabari, opened March 2023 with 122 rooms; previously Best Western Kutaisi, exited May 2023 after a six-year run), and agricultural production (flour under Begheli, Tone, and Baraka brands; 12 varieties of bread since January 2021; chilled pork distribution at ~400 animals per week). Headcount is approximately 14 employees spanning managing partner, executive director, CFO, legal, analytics, communications, IT, and administrative functions.

Capitol Management's core capability is cross-border investment management across the full lifecycle of distressed-asset acquisition, rehabilitation, and development in Georgia. The company does not operate a proprietary technology platform; its competitive differentiation derives from capital relationships, brand partnerships (BWH Hotels exclusive representation since 2014 through Capitol HPS, IHG, Marriott International), and operating know-how in Georgian real estate, hospitality, and agriculture. Notable project milestones include the Gldani Mall (opened 2015 at $15M, sold 2023), Best Western Kutaisi (2017, 135% cumulative ROI over six years), Holiday Inn Express Tbilisi Avlabari (March 2023, $12.3M budget, ranked 7th among 271 Holiday Inn Express hotels in Europe for guest satisfaction), Four Points by Sheraton Bakuriani (Marriott partnership, pre-development), and the suspended $130M Shovi Mountain Resort (halted following an August 2023 landslide).

Name

Capitol Management

Legal name

Capitol Management

Website

https://capitol.ge

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Capitol Management is a Tbilisi-based Georgian-Kazakh investment management company founded in 2014 managing a diversified portfolio of real estate development (Simetria), hospitality (IHG, BWH, Marriott brands), and agricultural projects using Kazakh capital and Georgian bank co-financing.

Ownership category

akta.pro rank

Product category

Investment Management

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Office Property Management (BPAJAGAA)

Keywords

• Investment management
• Real estate development
• Hospitality management
• Agricultural production
• Cross-border investment

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Investment Management Fees: Capitol Management earns fees from managing investment portfolios on behalf of investors, including co-investment structures with financial partners.
2. Real Estate Development and Sales: Revenue from developing and selling residential and commercial real estate projects through Simetria and Capitol Real Estate. Includes direct property sales to end buyers and rental income from commercial spaces.
3. Hospitality Operations: Revenue from hotel operations managed through Hotel Collection International Georgia, including room bookings, F&B, and conference services. Properties include Best Western Kutaisi (now exited), Holiday Inn Express Tbilisi Avlabari, and others.
4. Flour Production (Baraka Mill): Mill complex producing flour under brands Begheli, Tone, and Baraka. Revenue from selling flour to bakeries and food businesses. Production capacity was reduced to approximately 2,000 tons following restructuring.
5. Bread and Bakery Production (Bread Factory N1): Bakery producing 12 varieties of bread and baked goods, primarily serving western Georgia (Senaki region). Started production in January 2021, reached ~80% capacity within one month.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Capitol Management is a private Georgian-Kazakh investment management company that channels Kazakhstani capital into Georgian projects across real estate management, real estate development, hospitality, and agriculture. Through subsidiaries including Capitol Real Estate, Simetria, Hotel Collection International Georgia, and Capitol HPS, the company develops, rehabilitates, and manages residential and commercial real estate, internationally branded hotels, flour milling, bakery, and livestock farming operations.

Product overview

Capitol Management is a Georgian-Kazakh investment management company established in 2014 managing diverse projects across four sectors: real estate management (via Capitol Real Estate), real estate development (via Simetria), hospitality (via Hotel Collection International Georgia), and agriculture. The portfolio includes shopping centers (Gldani Mall), residential complexes (Simetria Vake, Park, Lisi, Jikia), hotels (Best Western Kutaisi, Holiday Inn Express Tbilisi Avlabari), agriculture projects (Baraka Flour Mill, Bread Factory N1, Geo-Agro, Kalanda pig farm). The offering is organized as a holding structure with distinct subsidiaries rather than a unified product platform.

Differentiator

Problem solved

Functional benefit

Brands

• Capitol Real Estate: Real estate management company managing real estate projects including lands, residential and commercial spaces, shopping centers and underground parking
• Simetria
• Hotel Collection International Georgia
• Baraka
• Begheli
• Tone

Products and services

• Capitol Real Estate (Real Estate Management Service) Real estate management service that identifies investment opportunities, structures co-investment deals with external financial resources, and provides ongoing management of properties including lands, residential and commercial spaces, shopping centers, and underground parking for Georgian-Kazakh investors.
• Simetria Real Estate Development Premium real estate development service specializing in medium-scale residential, commercial, and hospitality projects across Georgia, including the Simetria Vake, Park, Lisi, and Jikia developments.
• Hotel Collection International Georgia (Hotel Management Service) Hotel management service operating under international brands including Hilton, IHG, Wyndham, Melia, Best Western, and Accor; currently manages Capitol's hospitality portfolio including Holiday Inn Express Tbilisi Avlabari and Four Points by Sheraton Bakuriani.
• Gldani Mall

Quantifiable outcome

• Best Western Kutaisi achieved ROI of 135% over its investment period, delivering returns exceeding total capital invested each year during management (2017-2023)
• +8 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core and minor.

• Hotel Collection International (HCI) - SpaincoreStrategic or Co-development PartnerJoint venture established in 2016 between Capitol Management and Spain-based Hotel Collection International (which manages 20+ projects across Europe representing brands including Hilton, IHG, Wyndham, Melia, Best Western, Accor). HCI Georgia manages Capitol's hospitality portfolio including Best Western Kutaisi (now exited), Holiday Inn Express Tbilisi Avlabari, and Four Points by Sheraton Bakuriani.
• BWH Hotels (Best Western)coreGTM or Marketing PartnerBWH Hotels granted official representation of the Best Western brand in Georgia to Capitol Management. Capitol HPS serves as the official developer of BWH Hotels chains in Georgia. First hotel (Best Western Kutaisi) opened in 2017 as the first Best Western branded property in Georgia.
• Marriott InternationalcoreGTM or Marketing PartnerCapitol Real Estate signed agreement with Marriott International at end of 2019 to open Four Points by Sheraton Bakuriani — the first internationally branded hotel in the Bakuriani resort area.
• InterContinental Hotels Group (IHG)coreGTM or Marketing PartnerIHG brand partner for Holiday Inn Express Tbilisi Avlabari. The property is part of IHG's global hotel portfolio, benefiting from global distribution, loyalty programs (IHG Rewards), and brand standards.
• Salkhino 93 LLCcoreStrategic or Co-development PartnerSalkhino 93 owned the land near Akhmeteli Theatre metro station. In 2012, Shalva Jakhutashvili proposed a co-investment structure: Capitol Real Estate received 70% co-ownership in exchange for financial investment, with joint 30/70 management through Gldani Mall Service LLC.
• Big Dutchman (Germany)coreTechnology or IntegrationGerman company ranked among world's top five in livestock farming technology, equipment, and management. Big Dutchman supplied technology, equipment, and management oversight for the Kalanda pig farming complex, including the quarantine facility and production processes.
• BDOminorImplementation/ SI/ Consulting PartnerBDO conducted comprehensive legal audit on real estate assets owned by Shovi Resort's primary stakeholders as part of the resort development preparation.
• EY (Ernst & Young)minorImplementation/ SI/ Consulting PartnerEY (member of Big Four) developed detailed business plan for Shovi Mountain Resort based on development concept and master plan. Also facilitated unified development agreement with key property owners at Shovi.
• Cushman & WakefieldminorImplementation/ SI/ Consulting PartnerInternational consulting firm commissioned by Capitol Management to conduct nationwide study of Georgia's tourism and hospitality industries, identifying demand, development prospects, and key locations for hotel development.
• Freiland (Austrian consortium)minorImplementation/ SI/ Consulting PartnerAustrian consortium that created full development concept and master plan for Shovi Mountain Resort.
• Adactive ConsultingminorImplementation/ SI/ Consulting PartnerConducted strategic assessment study evaluating the role of Shovi Resort in the broader development of the Racha Region.
• Gama (Scientific Research Company)minorImplementation/ SI/ Consulting PartnerScientific research company that conducted ecological assessment of the Shovi resort area as part of development preparation.
• German Laboratories (Dr. Kurt von Storch, Dr. Janka Zalesakova)minorImplementation/ SI/ Consulting PartnerGerman and Slovak laboratories conducted comprehensive analysis of Shovi's mineral waters. Based on results, specialists developed a concept for balneotherapy and spa treatments using the mineral waters.

Scale indicators14 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Hilton Worldwide: Global hospitality brand that Hotel Collection International Georgia manages properties under. Comparable as a peer in the international hotel brand landscape where Capitol's subsidiary has active franchise relationships.
• Wyndham Hotels & Resorts: Global hotel franchisor with extensive brand portfolio including those operated by Hotel Collection International Georgia. Comparable through the hotel brand/franchise relationship and competitive landscape for hospitality real estate development.
• Emaar Properties: UAE-based global real estate developer with extensive international hospitality-tied development. Comparable through international hospitality-led real estate development model with branded hotel partnerships.

Direct peers

• Silk Road Group: Georgia-based diversified investment group with interests in real estate, hospitality, and cross-border Caucasus investments. Comparable to Capitol in multi-sector Georgia-focused investment platform and cross-border capital deployment.
• Georgia Capital: London-listed Georgian investment holding company with diversified exposure to Georgian real estate, hospitality, healthcare, and other sectors. Most directly comparable peer to Capitol Management's diversified Georgian-Kazakh investment platform model.
• m2 Real Estate: One of Georgia's largest residential real estate developers, focused on Tbilisi apartment complexes. Directly comparable to Capitol's Simetria subsidiary in product type (residential developments), target market (Tbilisi home buyers), and business model.
• Axis Towers / Axis Development: Tbilisi-based premium mixed-use real estate developer (Axis Towers complex). Directly comparable for high-end mixed-use development in Tbilisi, similar positioning to Simetria Jikia project.

Emerging players

• Polimeks (Turkey): Turkish construction and real estate development group with regional emerging-market project exposure. Comparable as a regional emerging-market real estate developer/investor in similar geographic tier.

Regional players

• Adjara Group: Georgian hospitality and F&B conglomerate operating hotels and restaurants across Georgia. Comparable to Capitol's hospitality operations under Hotel Collection International Georgia, though broader in F&B scope.

Others

• Georgian Co-Investment Fund (GCF): Georgia-focused private equity and co-investment platform. Comparable as a capital partner to Georgian enterprises; related ecosystem participant that provides capital to Georgian growth-stage companies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/capitolmanagement
• LinkedInlinkedin.com/company/capitol-sales

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capitol Management