ArmInfo. Hotel "Golden Palace" in Tsaghkadzor tentatively on December 15 will be exhibited at auction bidding. The decision on this was made at a meeting of the RA Government.
According to the Deputy Minister of Territorial Administration and Infrastructures of the Republic of Armenia Bagrat Badalyan, the total area of the hotel itself, located in the resort town of Tsaghkadzor on 34/1 Tandzakhpur Street, is 19705 sq.m. Another 1.8 hectares are reserved for utility rooms. As of November 20 this year the cost of the complex is 7.5 billion drams, and the cadastral value of utility rooms is 62.4 million drams. The hotel will be put up for auction as a single complex with a prerequisite for maintaining its profile. The starting price during the first auction will be equal to 100% of the estimated value - 7.5 billion drams, and during the second and subsequent auctions this value will decrease by 5%. After a government decision is made, an auction will be announced within two days, after which another two to three weeks will be spent on organizing it and receiving applications from participants. Thus, tentatively, the auction will be held on December 15.
Recall that the hotel complex belonged to the former head of the Armenian Customs Committee Armen Avetisyan, against whom a criminal case was instituted in November 2018. According to the investigation, Avetisyan built hotels for illegal proceeds, and designed them for fictitious foreign investors for cover. After the opening of the case, Avetisyan agreed to transfer one of the hotels to the state.