The Fate of the Expensive and Luxurious Hotel in Tsaghkadzor Hangs in the Air

In Tsaghkadzor, Kotayk Province, the fate of an expensive and luxurious hotel remains uncertain. The Armenian government has yet to decide how to proceed with the hotel.

The newspaper "Zhoghovurd" inquired with the Property Valuation and Auction Center about when the hotel would be put up for auction. In response to our question, the agency stated, "There is a government decision, and according to that decision, it is placed for auction. Once there is a government decision, then it will be put up for auction. We are not aware of when such a decision will be made regarding the hotel. As much as it was anticipated, we have placed it for auction. We are unaware if the hotel is currently in use or not."

“Zhoghovurd” also attempted to reach the head of the State Property Management Committee, former Ararat Governor Garik Sargsyan, to inquire whether the hotel is being maintained, but Sargsyan did not respond to phone calls, as always. We hope that at least Sargsyan will be responsible regarding maintenance issues.

It is worth noting that during the past year, the hotel has been put up for auction several times, but no applications have been submitted. The assessed value of the property for the first auction was 7 billion 526 million 457 thousand 800 drams.

Read the full article in today's edition of the newspaper.