TEG Group Successfully Merges Businesses in the USA, Expanding Uzbek Hospitality Market

TEG Group's Landmark Merger in the USA

The TEG Group, a prominent player in Uzbekistan's tourism and hospitality sector, has executed a significant merger with StageWise Strategies Corp. This pivotal event represents a leap forward for TEG, as it aligns with its growth strategy amidst Uzbekistan's burgeoning tourism market. This merger not only facilitates the company's entry into the U.S. stock market but also strengthens its position within the global hospitality community.

On October 15, 2026, TEG SPV LLC announced the successful completion of the merger, which establishes TEG Overseas, Inc. as the combined entity. This marks the first time a company from Uzbekistan will have its shares traded on U.S. exchanges, highlighting the increasing recognition of Uzbekistan’s potential in the hospitality industry. The agreement, structured as a stock swap, enables TEG to harness capital and operational synergies for future expansions.

A Thriving Tourism Market

Uzbekistan has positioned itself as a fast-growing tourism destination, welcoming approximately 11.7 million foreign tourists in 2025 — a staggering 47% increase from the previous year. The United Nations has recognized Uzbekistan's tourist market as one of the fastest-growing in the world within the first quarter of 2026. TEG aims to capitalize on this trend through expanded operations and enhanced offerings in hospitality.

TEG owns an impressive portfolio that includes high-profile properties like Hilton Tashkent City and Wyndham Bukhara, along with the Central Asian Expocenter (CAEx), a state-of-the-art venue for events and exhibitions. In 2025, the firm reported revenues of $42.9 million and a net profit of $14.4 million — increases of 22% and 215%, respectively, compared to 2024.

Strategic Growth and National Development

Anita Mendiratta, chair of the board at TEG, emphasized that this move heralds a pivotal moment for the growth of Uzbekistan’s hospitality sector. The company aims to enhance both its business ambitions and the national identity of Uzbekistan through this merger. Mendiratta pointed to the country's strong economic growth and commitment to national development as catalysts for making Uzbekistan a preferred destination for international travelers.

Furthermore, the merger benefits from TEG's affiliation with AKFA Group, a leading private business group in Central Asia. This relationship provides TEG with unmatched access to resources, industry connections, and operational efficiencies that are paramount in today's competitive market.

Future Prospects in Hospitality

With plans to use capital market access in the U.S. for future acquisitions, TEG intends to expand its portfolio beyond existing offerings. The strategy includes enhancing services for business and leisure travelers alike, leveraging its established relationships with international hotel brands, and capitalizing on the growing demand for MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism.

Irodakhon Abduvakhitova, an independent director and investor at TEG, noted that the company's longstanding relationship with AKFA facilitates access to extensive opportunities and industry relationships that aid in scaling operations effectively.

As TEG embarks on this exciting journey, its commitment to delivering world-class services aligns with Uzbekistan's broader economic objectives, ensuring the country continues to thrive as a dynamic hub for tourism and business in Central Asia. Moving forward, TEG is poised to grow its influence, riding on the wave of Uzbekistan's expanding tourism industry and its ongoing infrastructure modernization.

In essence, TEG's merger with StageWise Strategies Corp. is more than a strategic business move; it is a reflection of Uzbekistan's promising future as a vital player on the global tourism and hospitality stages. The implications of this merger resonate not just within Uzbekistan but across international markets, as TEG showcases the potential of Central Asian businesses in the global economy.