No Legal Issues in Donating Tsaghkadzor's 'Golden Palace' Hotel to the State, Narek Babayan Says

The 'Golden Palace' hotel in Tsaghkadzor still belongs to the Avetisyan family, but a draft government decision is circulating that proposes the property be accepted as a gift. Narek Babayan, the head of the State Property Management Committee, stated this during a conversation with journalists today, noting that there are no legal issues surrounding the donation of the property to the state, as reported by Hetq.

Currently, the hotel is not in operation. Babayan clarified that since the owners are the Avetisyans, they have the authority to decide what to do with it.

It is worth mentioning that the hotel is owned by the family of former head of the State Revenue Committee, Armen Avetisyan. After a criminal case was initiated by the NSS to verify the legality of the hotel’s construction financing for money laundering, the Avetisyans approached the State Property Management Committee, expressing their willingness to donate the hotel to the state, but law enforcement agencies had yet to comment on the donation.

NSS Director Arthur Vanetsyan had previously stated that the hotel was registered under an offshore company to conceal the name of its actual owner. According to Vanetsyan, the owners of the hotel are the son of Avetisyan, Artashes Avetisyan, and his mother.

Video: Hetq.am