The international hotel investment conference HOTCO hosted the Cofounder and Co-Chairman of Galaxy Group of Companies Artyom Khachatryan for an interview.
“Now, more than ever, Armenia is a good place to invest in and the reason for this is the opportunity gap formulated from the recent developments in the region”, Artyom Khachatryan highlighted in his interview.
He spoke about Armenia’s competitiveness among CIS countries and shared business insights on hospitality and commercial real estate development projects.
The interview with Aryom Khachatryan reads. “Armenia has become a good place for short touristic flows – for food and wine, for celebrations and entertainment. And some of the key factors for this development concerns post-covid circumstance when people started to visit non-restricted quarantine-free countries that don’t require visa applications. And so, a lot of touristic flow has been formulated from CIS countries. Of course, hospitality globally was put on hold after the pandemic first wave, but now we observe the recovery and can predict the boost. Yerevan is a good place to visit over a weekend offering a quality service combined with sightseeing of historical significance”.
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The interview also discusses the risk-mitigation strategies for instable times with references on how Artyom Khachatryan himself started and decided to walk into this competitive industry. To note, Khachatryan was a panel speaker at HOTCO 2020, presenting Armenia for the industry developers from around the world.
Please read the interview here.
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HOTCO is an international hotel investment conference focusing on the hotspots for hotel development in Europe: Central and Eastern Europe and the Caucasus. It is in the forefront of presenting global trends to help attendees interpret their impact on their local markets. For the fifth time on 30th-31st May 2022, HOTCO will bring together investors, developers, hotel companies and stakeholders from the region. The theme for HOTCO 2022 is Recouping Hotel Investment Values & Progressing with New Developments.
Galaxy Group of Companies was established in Armenia in 1999 and throughout its 20+ years of operations has created and developed 15 businesses in Armenia, Georgia, and Belarus. The success factors of all companies have been industry innovation, effective team involvement, and the responsible business culture developed on the basis of continuous learning. It should be noted that for already one decade, Galaxy Group of Companies has been introduced in the hotel and restaurant industry where, represented by its brands, it introduces innovations changing and improving market rules. The industry portfolio of Galaxy includes Yerevan SantaFe café and Pahest33 conceptual bar-restaurant, Teryan 5 project, developed with Marriott International, which is in the stage of completion and PAUL in Armenia.
