The historical monument-building at 2 Amiryan street was built in 1896, designed by architect Michael von der Nonne. At first, there was a male gymnasium here, and then, starting from 1936, there functioned the library named after Avetik Isahakyan. Now the building is being reconstructed. Here the Holiday Inn hotel will open its doors. The hotel will have 6 floors from Amiryan street: two glazed and two stone floors will be added to the two historical floors. The upper part of the hotel façade is made of Noyemberyan felsite tufa to fit with the Government House 2, and below, between felsite and historical facades, the glass curtain wall highlights the historical building domination against the general background. «Thus, we aimed to develop the environment by emphasizing the importance and value of these two buildings so that the new ones look secondary on their background»,- explains the architect Isahak Nersisyan. Yerevan Holiday Inn is planned to be a 4-star mid-range hotel occupying a total area of 23700 square meters. The hotel will have 191 rooms, 11 of which will be suites with separate bedrooms and living rooms, the rest are mainly double standard and executive rooms. The hotel will have two entrances, one from Amiryan Street and the other from the inner courtyard, where you can pass through the arch of the historic building. The first floors of the historic building on Amiryan street will be rented out as public spaces. At the top of the building there will be an open-air cafe with Pergola awnings and mobile canopies. The first floor of the second historic building in the inner courtyard will also be given for rent. The hotel complex will have 6-7 floors and 3 underground levels. On the first floor there will be: the hotel lounge, reception, bar, restaurant and other public areas, which are designed in Holiday Inn hotels’ style by open lobby stile, without partition walls. And the functional separation of the areas will be done with design solutions. The second floor of the hotel will be a sophisticated event area with conference rooms of various formats - 3 large and 4 small. From the third floor the hotel rooms are located, designed in a general style specific to Holiday Inn hotels. Isahak Nersisyan, the architect of the project notes, that they have not set the task of making some Armenian accents, the only difference from other Holiday Inn hotels will be the design of the carpets. «The carpets are knitted by special order with Armenian ornaments and with artificial wear and tear for giving them ancient look». On the 7th floor of the hotel there will be fitness and spa center, gyms and a large swimming pool. The interior design of the hotel rooms and corridors was carried out by the NST Architects headed by Isahak Nersisyan and the design of the hotel's public areas, conference halls, fitness center was developed by the Russian AD Design. Archangel architectural studio from Armenia also participated in the work designing the interior courtyard and Jivani restaurant.

As news.am reported, Head of Government-Affiliated State Property Management Department Arman Sahakyan stated, that "Dvin" and "Sevan" Hotels Construction to be completed. During press-conference Arman Sahakyan said, "Dvin" hotel will be reconstructed by 2014, or even earlier. And the basis for this optimism is the new commitments which the Hotel's proprietor has assumed. According to these obligations, if the proprietor does not carry out the investments specified in the contract, it will have to pay ten percent from the sum of unfulfilled investments, as a penalty. "Dvin" hotel was sold in 2003 to Caucasian Communication Group for US$ 3 million. The buyer had pledged to build a 5-star hotel in five years and to invest US$ 30 million; but no essential investment is made so far. And finally, if Dvin Hotel is not reconstructed, the Government of Armenia reserves the right to take its possession by court order, after 2014. During press-conference Arman Sahakyan also hoped, that reconstruction of "Sevan" hotel will reach its logical end. The hotel was sold in 1996 to "Carousel Establishment Company", which belongs to British-Armenian businessman Vache Manukian. Even though the buyer was obliged to rebuild the hotel in five years, it remains in dilapidated condition. During his visit to Yerevan in late September, Vache Manukian discussed the hotel's fate with Yerevan's mayor, Karen Karapetyan. Apparently, Manukian does not want to build a hotel, but rather a cultural or a business center. However, he has not reached a final agreement with municipal authorities so far.

A new hotel complex will be built at the "Republic Square" subway station in Yerevan. The construction is planned for 2011-2014. The government allowed Yerevan city mayor to provide an area of 5850 square meters for new hotel construction site. According to a data provided by the city hall, the hotel will contain conference room, sports and game rooms, beauty salon, restaurant and a cafe. Responsible authorities announced that the hotel will be built based on a number of existing features of the historic city center, which will ensure the integrity of the neighborhood. Hotel will be developed by "Tashir Group" with which the city administration has already signed an agreement. The proposal to build this hotel was made last year, but official discussion started on July 21 at the Yerevan Urban Council meeting. As a result of voting, at a ratio of 24 "for" and 3 "abstained"Counsil approved new hotel development project. It should be noted, that many architects are protesting the project, as they believe that by doing so the city is losing its architectural and historical heritage. But let's don't make premature conclusions and try to see the positive aspects of this project. Such projects are very much important for Armenian investment-hungry economy, they create new jobs, and finally, create new earthquake-resistant buildings. Recall that almost all old historic center buildings of Yerevan must sooner or later be reconstructed because of their poor earthquake resistance. Of course, it's strategically much more correct that the future development of Yerevan and especially its center to be done without further increasing the density of the building and plan new developments on the sites of an old and the most earthquake-dangerous buildings, and as a result gradually gain more and more earthquake-secure capital.