Ani Hotel Sale Contract Filed Properly Official Says

YEREVAN (Noyan Tapan)–The contract on the "Ani" hotel sale is fulfilled properly–the representative of the owner of the "Ani Enterprise LLC" hotel–advisor to the minister of industry–Karen Manukov told Noyan Tapan. The owners will pay the total worth of the contract ($4,000,000) within two years. Manukov said that besides making paymen’s on schedule–the owners covered all debts of the hotel.

The modernization of the hotel is expected to be completed by 2001–when the hotel will be turned into the four-star "Grand Hotel Ani." The owners pledged to invest $8,000,000 by that time–and another $2,000,000 by June 30. Another five-star hotel is expected to be constructed near the old building. $25-30 million will be invested in the construction.

The owners are currently discussing two schedules of carrying out the hotel’s reconstruction. Manukov said that the reconstruction will not spoil the exterior national and architectural color of the buildings.

The managing company of the "Grand Hotel Ani" will become known within a month. Besides the "Marriot International" company–it may be "Worlderf Astoria" or "Sheraton," the companies negotiations are currently being conducted with.

Manukov pointed out that all the five share-holders of the "Ani" hotel are of Armenian origin. Among them are Marco Brambilla and benefactors Savy and Ralph Tufenkians–who visited Armenia on humanitarian missions. All of them are US citizens. Manukov didn’t rule out the possibility that the number of shareholders will increase in the future.

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