AMERICAN BUSINESSMAN OF ARMENIAN ORIGIN IS GOING TO INVEST $25 MLN IN CONSTRUCTION OF HOTEL AND EXHIBITION COMPLEX NOT FAR FROM YEREVAN CENTER
ArmInfo
2009-07-14 14:18:00
ArmInfo. American businessman of Armenian origin Hurry Bedyan is going
to invest $25 mln in construction of Hilton Garden Inn hotel and an
exhibition complex not far from Yerevan center, H. Bedyan said in
Armenian Trade and Industry Chamber in Yerevan.
H. Bedyan is president of Bedyan Group Company (USA) and co-owner
of several big hotels in Los Angeles. ‘The right for the hotel
construction was received as a result of the negotiations which lasted
for about a year.
Construction of the hotel and its management will be carried out on
the basis of a franchising agreement with Hilton Hotels Corporation,
with adherence to the standards observed by this network of hotels
all over the world’, Bedyan said. According to him, the prices will be
attractive for both the tourists and business representatives as the
Hilton Gardens Inn network positions in the average price segment. One
hotel room will cost about $150 – 200 in ‘peak’ seasons and $120 -150
in the rest of the time.
The hotel will include 202 ordinary rooms and 40 flat-type rooms. The
hotel will be located on the road from Yerevan center to Zvartnots
international airport.
The construction of the hotel will amount to about $25-30 mln. ‘the
total of $5 mln capital investments have been already attracted, the
rest funds we are going to attract partly or fully at the expense
of the OPEC or the EBRD credit’, – Bedyan said and added that the
exhibition hall 3,5 thsd sq/m as well as car parking for 250 cars
will be also built. The construction will be finished in 2-3 years.
As deputy chairman of Armenian Trade and Industry Chamber Aram
Vardanyan said, the chamber will become one of the shareholders
of the hotel and will get the preferential right to buy its share
of shares and the right to delay the purchase payment. ‘Moreover,
we have arranged that sun energy panels and the network equipment
produced in Armenia will used in the hotel’, – he added. To note,
Vardanyan is director general of the CJSC "Biospher Technopark"
which has drawn out the sun power plants and sun elements.