PASHA Real Estate Group and Marriott International signed an agreement this week for the development of three major hotel-residential projects. Two will be developed in Azerbaijan — in Baku on Zagulba beach, and the third project involves opening a Le Méridien hotel in the Georgian capital Tbilisi. The signing ceremony took place in Baku in the presence of leaders of both companies, including PASHA Real Estate Group CEO Ozgur Geter and Marriott International president for Europe, the Middle East and Africa Neil Jones.
Flagship projects on the Caspian shore
The first Baku project — the The Ritz-Carlton Baku, Zagulba complex — will be located on the picturesque Caspian Sea coast in the Zagulba area, one of the most popular seaside resorts north of Baku. The hotel part of the project will feature 80 rooms that meet Ritz-Carlton luxury brand standards. The hotel and wellness complex will be equipped with a spa, indoor pool, modern fitness center, several restaurants, a beach club and the exclusive The Ritz-Carlton Club Lounge.
The hotel will be complemented by the residential complex The Ritz-Carlton Residences, Baku, Zagulba with 282 luxury residences and villas, featuring refined design and impeccable service at the highest level. Residents will have access to their own club, fitness center, pool, children's club, cinema and private beach.
In parallel, the company plans to expand the successful project The Ritz-Carlton Residences, Baku, opened in 2023, with a new building containing additional residences.
Georgia project and partnership strategy
In Georgia, development will focus on opening a Le Méridien hotel in Tbilisi, expanding Marriott's premium brand presence in the Georgian hotel real estate market.
According to Ozgur Geter, these projects reflect both companies' vision for premium hotel-residential service at the highest level that meets changing consumer expectations. "Our partnership with Marriott is built on a shared commitment to excellence, innovation and world-class guest experience," said PASHA CEO.
Neil Jones, for his part, noted that Eastern Europe and the Caucasus remain an important growth market for Marriott. This growth is supported by developing hotel infrastructure, expanding travel demand and growing consumer and investor interest in premium global brands. Partnerships such as this reflect Marriott's intention to diversify its brand portfolio, meeting demand from both entry-level and premium segments in these rapidly developing markets.