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December 02
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The Armenian Government presented the Golden Palace Hotel in Tsakhkadzor as a donation to Armenia.

The main speaker Suren Papikyan mentioned that the market value of the hotel is AMD 7 billion 535 million 889 thousand, the area of ​​the buildings - 19 758 square meters, the land - 1.38 hectares.

"The hotel will be transferred to the state with all the property inside the building, the total value of which is estimated at AMD 312 889,000," Papikyan noted.

Papikyan noted that the property should be allocated to the State Property Management Committee for later exploitation for the needs of the state. The draft provides for the organization of property protection activities after the completion of the property transfer and acceptance work to be entrusted to the Armenian Police until a corresponding decision on the further possession of the property by the Armenian government is taken.

The hotel is owned by the former chair of the State Customs Committee Armen Avetisyan.

In November 2018, the NSS Investigation Department opened a criminal case on the fact of ex-chair of the State Customs Committee Armen Avetisyan's illegal business activities and money laundering.

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