Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 155

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 155
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 and limit opportunities for growth. Our business is subject to a number of business, financial and operating risks inherent to the hospitality industry, including: •significant competition from hospitality providers in all parts of the world; •changes in the supply and demand for hotel services, including rooms, food and beverage and other products and services; •the financial condition of and relationships with hotel management companies and joint venture partners, including the risk that they may terminate or fail to comply with the relevant management or joint venture contracts or arrangements; •decreases in the frequency of business travel that may result from alternatives to in -personmeetings, including virtual meetings hosted online or over private teleconferencing networks; •increases in operating costs, including employee compensation and benefits, energy, insurance, food and beverage and other supplies; •the ability of third -partyinternet and other travel intermediaries who sell our hotel rooms to guests to attract and retain customers; •delays in or cancellations of planned or future development or refurbishment projects at hotels in our system; •cyclical over -buildingin the hospitality industry; and •changes in desirability of geographic regions of the hotels in our business, geographic concentration of our operations and customers and shortages of desirable locations for development. Any of these factors could (i) increase our costs or (ii) limit or reduce the prices we are able to charge, or (iii) otherwise affect our ability to maintain or operate existing properties or develop new properties. As a result, any of these factors can reduce our revenues and limit opportunities for growth. 96 The hospitality market is highly competitive, and we may be unable to compete successfully. The market to provide hospitality services is highly competitive and fragmented. The barriers to entry are low and new competitors may enter the market at any time. Our current or potential competitors include global hotel brands, regional hotel chains, independent hotels, online travel agencies and home -sharingand rental services and short term/vacation rental. Additionally, current or new competitors may introduce new business models or services that we may need to adopt or otherwise adapt to in order to compete, which could reduce our ability to differentiate our business or services from those of our competitors. Increased competition could result in a reduction in revenue, fewer attractive properties, higher costs or reduced market share. Furthermore, some of our current or potential competitors, such as major hotel brands, are larger and have more resources than we do. Many of our current and potential competitors enjoy substantial competitive advantages, such as greater name recognition in their markets,