The construction of Hyatt hotel in Jermuk, Armenia, will be completed in fall 2014. The hotel will include 80 rooms, spa-center, water treatment facilities, restaurants, swimming pools, gyms. In line with preliminary estimates, US$ 15 million are expected to be invested for the construction which began in 2009. The author of this project is current head of the State Committee for Architecture at Government Narek Sargsyan. Jermuk City Municipality building is planned to be built next to new hotel.

"Hyatt Hotels" Corporation announced that a Hyatt affiliate has entered into an agreement with "Ginekar" Limited Liability Company for a Hyatt Place hotel in Yerevan, the capital of Armenia, reported The Financial. Hyatt Place Yerevan is the First Hyatt Place hotel in CIS countries and the third Hyatt Place hotel under development in Europe, joining Hyatt Place Amsterdam Airport and Hyatt Place Zurich Airport. Slated to open in the spring of 2013, Hyatt Place Yerevan will offer 96 guestrooms, in addition to more than 120 square meters of meeting space, an open market with made-to-order meals and snacks around the clock, a restaurant offering breakfast, lunch and dinner; a bar; a four-station e-room, and a well-equipped fitness center. As Hyatt Hotels Corporation reported, the hotel will be located next to Republic Square, the heart of Yerevan's city center, and is in close proximity to the Government House, the Ministry of Foreign Affairs, the National Gallery, and Abovyan Street, the city's main thoroughfare with many boutiques, cafes and gift shops. "We are pleased to introduce the Hyatt Place brand to a city that is undergoing major commercial and development enhancements and transformations," said Peter Norman, Senior Vice President - Acquisitions and Development for Hyatt International - Europe, Africa, Middle East LLC. . "We are proud to develop the first Hyatt Place hotel in Armenia," said Samvel Sargsyan, Chairman of the Board, Ginekar Limited Liability Company. "The Hyatt Place brand is a unique and refreshing concept, and we believe that this will be a very successful hotel serving business and tourist visitors to the Armenian capital."