PASHA Real Estate Group and Marriott International sign multi-property deal

PASHA Real Estate Group and Marriott International have signed an agreement to develop three new hotel and residential properties in Azerbaijan and Georgia.

The planned developments in Baku, Azerbaijan, include a luxury hotel and branded residences under The Ritz-Carlton brand located along Zagulba Beach. This project also involves the extension of The Ritz-Carlton Residences, Baku, within a new residential tower. Additionally, the agreement includes the anticipated opening of a Le Méridien hotel in Tbilisi, Georgia.

Marriott International executives noted that Eastern Europe and the Caucasus represent significant growth areas due to rising travel demand and evolving hospitality infrastructure. PASHA Real Estate Group stated the projects aim to deliver luxury living experiences and contribute to the long-term attractiveness of the region.