Marriot to Purchase Armenia Hotel

YEREVAN (Noyan Tapan)– Deliberation is underway for the sale of Armenia Hotel to the Marriot company reported Trade and Industry Minister Garnik Nanagoulian at a Tuesday press conference. He refrained from providing any details of the deals.

At the press conference held at the National Democratic Union offices–Nanagoulian said that within the next five years–Marriot will acquire two additional hotels in Armenia–not specifying which two hotels.

Armenia Hotel–along with hotels Dvin and Ani–was included in the list publicized by the government last year as enterprises to be privatized by international tenders. The ArmenTel communications company and the Yerevan Brandy Factory were privatized in that fashion.

Regarding the recent sale of the Yerevan Brandy Factory to the French Pernod Ricard company–Nanagoulian stressed the importance of offering to the world this Armenian national treasure. "If Armenia on its own cannot achieve that goal–then it will do it with its partners."

The Trade and Industry Minister reported that soon he will depart for Austria to hold meeting with a famous Austrian company regarding the sale of Vanatzor’s "Rubin" factory. He ranked Rubin with the Nairit–Ganaz–Manratel–Transistor and Mars factories as ones with great potential to attract international interest and ones which do not necessitate grand investmen’s.

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