1. What is the nature of your business?
Trinity Hotels is a value-add hotel fund. We purchase undervalued assets and improve the value of the property by implementing value add strategies such as renovation, re-branding, and improvements in management.
2. What do you primarily use the capital raised for?
The capital is primarily used for purchasing the property and for the physical improvements required.
3. Why do you choose to raise money from EMDs rather than on your own?
Using the EMD channel allows us to focus on running the business and doing what we do best. It also allows for the proper processes required by the security commissions to be followed, such as KYC and KYPs, etc.
4. Why stay a private company instead of becoming a public company?
We have entertained the public route but found that it is too onerous in reporting, and very expensive to maintain.
5. Over the past several years, many changes have been made to the exempt market rules and regulations. What is the biggest change you have seen and explain how it has affected your business.
Overall, the amount and level of reporting required has been dramatically increased by the regulators. This ultimately drives up the cost of doing business, but it does allow proper insights into the company for investors.
6. What do you think of the reporting regime in the private markets?
Overall, the reporting regime has matured in the last few years and while I believe that it is a good thing for the market, it needs to be more efficient so that it is less expensive in time and capital for the issuers.
