State to Either Hand Over or Sell Golden Palace Hotel

The government intends to either hand over the "Golden Palace" hotel in Tsaghkadzor, which it accepted as a donation, for management under a franchise agreement or sell it for the best offer in the near future. This was stated by Narek Babayan, the head of the State Property Management Committee, in response to a question from MP Taguhi Tovmasyan.

“Although a decision has been made for the time being, the handover and acceptance processes have not yet been completed. After acceptance, it will either be provided for management under a franchise agreement, so that the corresponding operator can operate it as a hotel, or it will be put up for auction,” Babayan said.

He assured that they will not hold onto the property idly, as they plan to either hand it over for franchise management or sell it in a short time. Babayan expressed hope that this will be completed before the New Year.