BAKU, Azerbaijan, September 4. PASHA Real
Estate Group and Marriott International, Inc., announced this week
a signed agreement to launch three new hotel and residential
properties across Azerbaijan and Georgia. The planned projects
include a luxury hotel and branded residences under The
Ritz-Carlton along the shores of Zagulba Beach in Baku, along with
the extension of The Ritz-Carlton Residences, Baku within a new
residential tower. The agreement also includes the anticipated
addition of a Le Méridien hotel in Tbilisi.
The signing ceremony for the new projects took place at The
Ritz-Carlton, Baku in the presence of Özgür Geter, Chief Executive
Officer of PASHA Real Estate Group and Neal Jones, President,
Europe, Middle East & Africa, Marriott International, along with
other senior leaders from both organizations.
“As a company, we are committed to shaping destinations that
contribute to the long-term growth and attractiveness of Azerbaijan
and the wider region,” said Özgür Geter, Chief Executive Officer of
PASHA Real Estate Group. “These projects reflect our vision to
deliver world-class hospitality and luxury living experiences that
meet evolving consumer expectations while creating lasting value
for our communities and stakeholders. Our relationship with
Marriott has been built on a shared commitment to excellence,
innovation and exceptional guest experiences, and we are proud to
expand that collaboration through the introduction of new landmark
developments under some of the world's most renowned brands.”
“Eastern Europe and the Caucasus remain an important growth area
for Marriott, supported by increasing travel demand, evolving
hospitality infrastructure and strong consumer and owner appetite
for globally recognized brands,” said Neal Jones, President,
Europe, Middle East & Africa, Marriott International. “These
agreements reflect the momentum we are seeing across the region and
our strategy to expand a diverse portfolio of brands that resonates
with a wide range of travelers and trip purposes, while also
catering to the growing demand for premium lifestyle and luxury
living experiences. We look forward to expanding our relationship
with PASHA Real Estate as we further strengthen our presence in
these dynamic markets.”
The Ritz-Carlton Baku, Zagulba and The Ritz-Carlton
Residences, Baku, Zagulba
The company is anticipated to bring The Ritz-Carlton’s legendary
service and elegant design to the shores of Bilgah Beach, a
sought-after seaside retreat north of Baku on the Caspian Sea. The
Ritz-Carlton Baku, Zagulba is expected to feature 80 elegantly
appointed guestrooms and suites in a beach resort location. Plans
for the property include distinct dining venues and a range of
facilities such as an indoor swimming pool, fitness center, spa, a
beach club and The Ritz-Carlton Club Lounge.
The project is also anticipated to include The Ritz-Carlton
Residences, Baku, Zagulba which will feature 282 luxury apartments
and villas that aim to elevate daily life with sophisticated style
and legendary service. Plans for the residences include dedicated
facilities such as a clubhouse, fitness centre, swimming pool, kids
club, cinema and private beach access.
Extension of The Ritz-Carlton Residences,
Baku
Following the successful launch of The Ritz-Carlton Residences,
Baku in 2023, PASHA Real Estate Group plans to develop a new tower
within the existing site which is anticipated to feature 238
additional luxury residences along with dedicated amenities such as
a lounge, fitness center and swimming pool.
Le Méridien Tbilisi
Le Méridien plans to expand its portfolio in Georgia with the
addition of a hotel within the Chugureti district of central
Tbilisi, one of the city's most vibrant and emerging neighborhoods.
Le Méridien Tbilisi is expected to feature 152 contemporary
guestrooms along with multiple dining outlets, meeting and events
space and a fitness center. The property will reflect Le Méridien’s
spirit of savoring the good life and feature signature brand
programs and spaces, such as Le Méridien Hub – a modern
reinterpretation of the traditional hotel lobby.
The newly signed projects further strengthen the collaboration
between PASHA Real Estate Group and Marriott International which
currently comprises The Ritz-Carlton, Baku; The St. Regis Baku, JW
Marriott Absheron Baku, Baku Marriott Hotel Boulevard, Sheraton
Baku Intourist Hotel, Courtyard by Marriott Baku, Pik Palace,
Shahdag, Autograph Collection and Park Chalet, Shahdag, Autograph
Collection.
About PASHA Real Estate Group
PASHA Real Estate Group, part of PASHA Holding, specializes in
real estate investment, development, construction, strategic
management, and asset operation. The company's geographic footprint
covers Azerbaijan, Turkey, Georgia, Uzbekistan, Montenegro, and the
USA. The group's portfolio includes elite hotels, world-class
resorts, retail complexes, premium residential real estate, and
multifunctional projects. Guided by the principles of quality,
reliability, and customer focus, "PASHA Real Estate Group" strives
to set new industry standards and ensure sustained growth in the
value of its assets internationally. www.pasharealestate.az
About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda,
Maryland, USA, and encompasses a portfolio of compelling brands
across luxury, premium, select, midscale, extended stay, and
all-inclusive, with over 10,000 properties in 148 countries and
territories, as of June 30, 2026. Marriott franchises, operates,
and licenses hotel, residential, timeshare, yacht, outdoor, and
other lodging products all around the world. The company offers
Marriott Bonvoy®, its highly awarded travel platform. For more
information, please visit our website at www.marriott.com, and
for the latest company news, visit www.marriottnewscenter.com
