Uzbek Hotel Group TEG Completes Historic Merger in the U.S. Market

TEG's Historic Merger with StageWise Strategies

In a groundbreaking move for the Uzbek hospitality sector, TEG SPV LLC, a leading integrated group in tourism, hospitality, and event management, has successfully completed its merger with StageWise Strategies Corp., thereby establishing TEG Overseas, Inc. This merger is not only a milestone for TEG but also represents the first public offering of an Uzbek firm on the U.S. market, listing its common stock on OTC Markets.

Strategic Implications of the Merger

The successful merger is pivotal for TEG as it enables the company to leverage rapidly evolving market trends in Uzbekistan's tourism landscape. In recent years, Uzbekistan has seen a substantial surge in foreign visitors due to a nationally prioritized focus on tourism development. This shift is supported by various economic reforms and infrastructure enhancements aimed at making Uzbekistan a global tourism and business hub in Central Asia.

TEG's portfolio features high-end properties such as Hilton Tashkent City, Wyndham Bukhara, and the Central Asian Exhibition Center (CAEx)—one of the most advanced congress centers in Central Asia. In the fiscal year 2025, TEG reported impressive financial growth with revenues hitting $42.9 million and a net profit of $14.4 million, marking increases of 22% and 215% year-over-year, respectively.

Vision for Growth and Development

Anita Mendiratta, Chairwoman of the Board of Directors at TEG, expressed her enthusiasm for this merger, stating, “With a proven portfolio of high-quality assets and strong relationships with leading international hotel brands, TEG is well-positioned to embark on the next phase of growth. This merger symbolizes a transformative moment for Uzbekistan's tourism economy.”

Uzbekistan attracted approximately 11.7 million foreign tourists in 2025, a 47% leap from the previous year, recognizing it as one of the fastest-growing tourist destinations worldwide, according to the World Tourism Organization (UNWTO). TEG aims to capitalize on this momentum by scaling its operations further and enhancing its market share in the hospitality sector.

The Role of AKFA Group

TEG's affiliation with AKFA Group, one of Central Asia's largest private business conglomerates that employs around 38,000 people, provides critical advantages. Founded in Tashkent in 2001, AKFA has established a strong business framework across several strategic sectors, including tourism, electronics, and healthcare. This partnership grants TEG access to broader business networks, investment opportunities, and the ability to execute projects efficiently within Uzbekistan and beyond.

Expanding Tourism and Event Sectors

As a public entity, TEG plans to tap into U.S. capital markets to facilitate future acquisitions and expand its asset portfolio within the hospitality and MICE (Meetings, Incentives, Conferences, and Exhibitions) sectors. The company is set to pursue strategic initiatives that will broaden its service offerings to accommodate a larger spectrum of business and tourist travelers.

In summary, TEG's merger with StageWise Strategies not only symbolizes a major leap for the company but also signifies a broader vision for the Uzbek tourism sector, aiming to enhance its competitiveness, economic growth, and global visibility.

For more information, visit TEG's Official Website.