New Owner for Golden Palace Expected by End of Month or Early December, Babayan Says

There are potential buyers for the Golden Palace hotel, and preparations are underway for an auction, said Narek Babayan, head of the State Property Management Committee, during a briefing with reporters at the National Assembly.

"We are preparing the auction option. We hope that the draft government decision will be presented and approved soon," Babayan noted.

When asked about the timeline, Babayan indicated that efforts are being made to find a new owner for the hotel as quickly as possible.

"If not by the end of this month, then at the beginning of December," he added.

It is recalled that the government had decided to transfer the ‘Golden Palace’ hotel in Tsaghkadzor, previously owned by former SSTC head Armen Avetisyan, as a donation to the Republic of Armenia.