The planned projects include a luxury hotel and branded residences under The Ritz-Carlton brand at Zagulba Beach in Baku, an extension of The Ritz-Carlton Residences, Baku through a new residential tower, and a Le Méridien hotel in Tbilisi.
The signing ceremony was held at The Ritz-Carlton, Baku, in the presence of Ozgur Geter, Chief Executive Officer of PASHA Real Estate Group, and Neal Jones, President, Europe, Middle East & Africa at Marriott International, alongside other senior executives from both companies.
Geter said: “As a company, we are committed to shaping destinations that contribute to the long-term growth and attractiveness of Azerbaijan and the wider region. These projects reflect our vision to deliver world-class hospitality and luxury living experiences that meet evolving consumer expectations while creating lasting value for our communities and stakeholders. Our relationship with Marriott has been built on a shared commitment to excellence, innovation and exceptional guest experiences, and we are proud to expand that collaboration through the introduction of new landmark developments under some of the world’s most renowned brands.”
“Eastern Europe and the Caucasus remain an important growth area for Marriott, supported by increasing travel demand, evolving hospitality infrastructure and strong consumer and owner appetite for globally recognised brands,” said Neal Jones, President, Europe, Middle East & Africa, Marriott International. “These agreements reflect the momentum we are seeing across the region and our strategy to expand a diverse portfolio of brands that resonates with a wide range of travelers and trip purposes, while also catering to the growing demand for premium lifestyle and luxury living experiences. We look forward to expanding our relationship with PASHA Real Estate as we further strengthen our presence in these dynamic markets.”
The Ritz-Carlton Baku, Zagulba is planned for the shores of Zagulba Beach, a seaside area north of Baku on the Caspian Sea. The resort is expected to feature 80 guestrooms and suites.
Plans for the property include several dining venues, an indoor swimming pool, fitness centre, spa, beach club and The Ritz-Carlton Club Lounge.
The development is also expected to include The Ritz-Carlton Residences, Baku, Zagulba, comprising 282 luxury apartments and villas. Planned residential facilities include a clubhouse, fitness centre, swimming pool, kids club, cinema and private beach access.
PASHA Real Estate Group also plans to expand The Ritz-Carlton Residences, Baku, following the launch of the existing development in 2023.
A new tower within the current site is anticipated to add 238 luxury residences, along with dedicated amenities including a lounge, fitness centre and swimming pool.
In Georgia, Le Méridien is expected to expand its presence with a new hotel in the Chugureti district of central Tbilisi.
Le Méridien Tbilisi is anticipated to feature 152 guestrooms, multiple food and beverage outlets, meeting and events facilities and a fitness centre.
The property will also incorporate Le Méridien brand elements, including Le Méridien Hub, the brand’s reinterpretation of the traditional hotel lobby, alongside other signature programmes and spaces.
The newly signed projects expand an existing relationship between PASHA Real Estate Group and Marriott International in Azerbaijan.
The companies’ current portfolio includes The Ritz-Carlton, Baku; The St. Regis Baku; JW Marriott Absheron Baku; Baku Marriott Hotel Boulevard; Sheraton Baku Intourist Hotel; Courtyard by Marriott Baku; Pik Palace, Shahdag, Autograph Collection; and Park Chalet, Shahdag, Autograph Collection.
Tags: Ozgur Geter PASHA Real Estate Group Le Méridien Neal Jones, Marriott International Georgia Azerbaijan