One of the companies owned by Sedrak Kocharyan, the son of the second president of Armenia Robert Kocharyan, seeks to purchase the Congress Hotel in Yerevan. Robert Kocharyan's Spokesman Viktor Soghomonyan has confirmed this information to ArmInfo. Soghomonyan says that the parties concerned are currently negotiating to conclude a deal. The Spokesman has refused to tell any other details.
The hotel management has refused to comment on the shareholders' intention to put it up for sale. Nor has it provided any information to ArmInfo about the shareholders themselves. However, according to unverified data, BEST WESTERN Congress Hotel belongs to Renco Arm State, a major Italian developer, which has built a number of buildings in Yerevan. The underground parking lot near the Opera building and the new cycle track are among the latest projects of the company.
Congress Hotel has 126 standard rooms, as well as 10 executive category rooms. Independent observers estimate the cost of the hotel at 30-50 million USD.