YEREVAN. – Zhoghovurd newspaper of the Republic of Armenia (RA) writes: The fate of Golden Palace Hotel located in Tsakhkadzor, in the RA Kotayk Province, continues to be unknown. The super-expensive five-star hotel in demand has no buyers. By the way, it has not been put up for auction yet.

Zhoghovurd daily learned that about 180 people who came from Artsakh [(Nagorno-Karabakh)] have been accommodated in the hotel these days. According to Narek Babayan, head of the RA State Property Management Committee, they are currently negotiating with a company over the sale of the hotel.

We asked Narek Babayan to present which company is interested in the Armenian five-star hotel. In response to the question of Zhoghovurd daily, Babayan said. "Frankly, I cannot say the name of the company as such. It seems to me that it is a mixed consortium from various countries. I am waiting for them to come to Armenia and discuss," Babayan said.

Let us add that the estimated value of the property [of this hotel] at the previous auction was 7 billion 526 million 457 thousand 800 drams. It turns out that the super-expensive hotel taken from the private [sector] has not operated to this day. At first it was closed, then it was serving as a place of isolation for the corona[virus] infected, and now—as a shelter for the people of Artsakh.