Ameriabank Promotes Hospitality Sector Development in Armenia
Media Room

Hyatt International chain opened Hyatt Place Yerevan Hotel in Yerevan, its first property in the region. About 15 mln USD was invested into the hotel construction, with over 9 mln USD financed by Ameriabank.

According to the expert research conducted by Ameria Advisory, Armenia is gradually making its way into tourism industry. The compound annual growth rate (CAGR) of international arrivals in Armenia over the past 5 years has grown 8.6% Y-o-Y. Given the early stage of tourism industry active development in Armenia, this is a rather high indicator. Moreover, the number of people considering Armenia as tourism destination is growing too. The research findings show that the employment level in the hospitality sector of Armenia has demonstrated a solid increase over the past 2-3 years. Only in 2012, Armenia welcomed 843,830 tourists, up by 11% over the previous year’s level.

Entry of the new brand into Armenia will promote enhancing of the competitive environment in Armenia, improvement of service quality and creation of new jobs.

Updated 27.12.2013, 10:06
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