YEREVAN. – Even though the persons in charge of Armenia’s state property management claim that $860,000 were made in investments to Dvin Hotel in capital city Yerevan, the hotel complex has remained a wreck, Aravot daily reported.      

“And Dvin’s proprietor was obligated to make a $4 million investment this year.

“According to the contract, the hotel’s renovation shall be completed in 2016. If the proprietor fails to fulfill his promise, he will be subject to fines and penalties.

“Nonetheless, the trace of these investments is not seen even with the naked eye,” Aravot wrote.