Yerevan Mayor Hrachya Sargsyan has given the green light for the construction of an eighteen-story hotel opposite Cinema Moscow on Abovyan Street.

Businessman Gagik Tsarukyan’s MultiGroup Concern company will build the hotel, a part of the Kempinski Hotels chain.

Kempinski Hotels CEO Bernold Schroeder today met with Gagik Tsarukyan in Yerevan to discuss construction specifics.

Kempinski Hotels, Europe’s oldest luxury hotel group, owns 79 hotels in 34 countries, including China, Cuba, Turkey, Israel, Switzerland and the UAE.

(Top photo: Yerevan Mayor Hrachya Sargsyan, Gagik Tsarukyan)