PASHA Real Estate Group and Marriott International, Inc.,announced this week a signed agreement to launch three new hotel andresidential properties across Azerbaijan and Georgia. The planned projectsinclude a luxury hotel and branded residences under The Ritz-Carlton along theshores of Zagulba Beach in Baku, along with the extension of The Ritz-CarltonResidences, Baku within a new residential tower. The agreement also includesthe anticipated addition of a Le Méridien hotel in Tbilisi.
The signing ceremony for the new projects took place at TheRitz-Carlton, Baku in the presence of Özgür Geter, Chief Executive Officer ofPASHA Real Estate Group and Neal Jones, President, Europe, Middle East &Africa, Marriott International, along with other senior leaders from bothorganizations.
“As a company, we are committed to shaping destinations thatcontribute to the long-term growth and attractiveness of Azerbaijan and thewider region,” said Özgür Geter, Chief Executive Officer of PASHA Real EstateGroup. “These projects reflect our vision to deliver world-class hospitalityand luxury living experiences that meet evolving consumer expectations whilecreating lasting value for our communities and stakeholders. Our relationshipwith Marriott has been built on a shared commitment to excellence, innovationand exceptional guest experiences, and we are proud to expand thatcollaboration through the introduction of new landmark developments under someof the world's most renowned brands.”
“Eastern Europe and the Caucasus remain an important growth areafor Marriott, supported by increasing travel demand, evolving hospitalityinfrastructure and strong consumer and owner appetite for globally recognizedbrands,” said Neal Jones, President, Europe, Middle East & Africa, MarriottInternational. “These agreements reflect the momentum we are seeing across theregion and our strategy to expand a diverse portfolio of brands that resonateswith a wide range of travelers and trip purposes, while also catering to thegrowing demand for premium lifestyle and luxury living experiences. We lookforward to expanding our relationship with PASHA Real Estate as we furtherstrengthen 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 legendaryservice and elegant design to the shores of Bilgah Beach, a sought-afterseaside retreat north of Baku on the Caspian Sea. The Ritz-Carlton Baku,Zagulba is expected to feature 80 elegantly appointed guestrooms and suites ina beach resort location. Plans for the property include distinct dining venuesand 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-CarltonResidences, Baku, Zagulba which will feature 282 luxury apartments and villasthat 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 theexisting site which is anticipated to feature 238 additional luxury residencesalong with dedicated amenities such as a lounge, fitness center and swimmingpool.
Le Méridien Tbilisi
Le Méridien plans to expand its portfolio in Georgia with theaddition of a hotel within the Chugureti district of central Tbilisi, one ofthe city's most vibrant and emerging neighborhoods. Le Méridien Tbilisi isexpected to feature 152 contemporary guestrooms along with multiple diningoutlets, meeting and events space and a fitness center. The property willreflect Le Méridien’s spirit of savoring the good life and feature signaturebrand programs and spaces, such as Le Méridien Hub – a modern reinterpretationof the traditional hotel lobby.
The newly signed projects further strengthen the collaborationbetween PASHA Real Estate Group and Marriott International which currentlycomprises The Ritz-Carlton, Baku; The St. Regis Baku, JW Marriott AbsheronBaku, Baku Marriott Hotel Boulevard, Sheraton Baku Intourist Hotel, Courtyardby Marriott Baku, Pik Palace, Shahdag, Autograph Collection and Park Chalet,Shahdag, Autograph Collection.
About Marriott International
MarriottInternational, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, andencompasses a portfolio of compelling brands across luxury, premium, select,midscale, extended stay, and all-inclusive, with over 10,000 properties in 148countries and territories, as of June 30, 2026. Marriott franchises, operates,and licenses hotel, residential, timeshare, yacht, outdoor, and other lodgingproducts all around the world. The company offers Marriott Bonvoy®, its highlyawarded travel platform. For more information, please visit our website at www.marriott.com, and for the latestcompany news, visit www.marriottnewscenter.com
