Armenia to have ten branded hotels in few years: Minister

YEREVAN, October 19. / ARKA /. The number of branded hotels in Armenia is expected to grow to 10 in a few years, Armenian economy minister Tigran Davtian said to journalists today. He said there are now several branded hotels in Armenia, like Marriott and Golden Tulip hotels in Yerevan. The second Marriott hotel will be built in the resort town of Tsakhkadzor.

He said there are four Best Western hotels and another one is set to open next year. Also in 2013, Armenia will have Hyatt and Kempinski branded hotels.

According to the minister, the seasonal demand for hotel rooms in Armenia exceeds supply, which is a good signal for the opening of new hotels. He also said five, three-and two-star hotels need also to be built.

Earlier this month The Hyatt Hotels Corporation announced signing an agreement with Ginekar Company on the management of the first in the CIS branded Hyatt Place hotel in Yerevan, scheduled to open in the Armenian capital in the spring of 2013.

On October 4 the government of Armenia gave green light today to selling a government building on Republican Square that houses the ministries of foreign affairs and Diaspora. The historical building will be sold to Tango Company for $51.271 million. The building was built in the 1940's. Its total space is 14,000 square meters. The government said the buyer has committed to invest as much as required to remodel the building into a five-star hotel by preserving its historical and cultural appearance.

Earlier, the chief architect of Yerevan Narek Sargsyan, said the building may be sold to Kempinski Hotels Group. In late 2011 there were 200 hotels in Armenia, with the bulk in Yerevan and resort towns of Tsakhkadzor, Sevan, Jermuk and Dilijan. -0-