10X Dilijan Hotel

The tourism sector in Armenia has experienced unprecedented development over the past decade, registering an average annual growth of 15%. Revenues generated in the tourism sector account for 15.3% of Armenia’s GDP, and the number of visitors in the pre-COVID period exceeded 4 million people. 27% of visitors come to Armenia from the EU countries, 26% from Russia and other CIS countries, 5% from Iran, 6% from the USA. In addition to the traditional premium airlines, low-cost airlines such as Wizzair, Transavia, Skyup, Bees, Ryanair, Airbaltic, Fly Pegasus, Fly One and others began to fly to Armenia, connecting Yerevan and Gyumri with European countries at a price starting from 40 euros. The Recycle Development company has purchased an old industrial building in Dilijan covering 4500 sq.m. which is set to be transformed into a premium-class industrial style designed 10X Dilijan Hotel. The hotel will have a rooftop lounge, 2 swimming pools, indoor garden, concert hall, spa center, wine bar, restaurants and many more. The hotel will be equipped with 39 rooms, out of which 18 will be 2-storey loft style rooms. Meanwhile, the basement will comprise swimming pool - 75 m2, terrace - 130 m2, GYM & SPA - 458 m2, locker rooms - 130m2, technical rooms - 162m2. One of the swimming pools located at the rooftop will be heated, while the bigger swimming pool adjacent to the terrace overlooks the gorge and lush forests of Dilijan. The project is estimated at $7,500,000 and the company offers tickets each costing $100,000. 15 tickets have already been purchased and the company is looking for shareholders for the available 60 tickets.

Required investments

$7,500,000

2 917 500 000֏

Profitability

14%

Recycle Development CJSC