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Team Group of Companies became the new owner of Grand Hotel Yerevan. This was announced by Andrea Dellasanta, director of the Armenian branch of the Italian Renco company, and Alexander Yesayan, Co-founder of Team Group, at a press conference last week.

Summarizing the hotel's activities over the past 25 years, Andrea Dellasanta noted that this has played a significant role in Renco's history. " Following the acquiring of the hotel in 1998, we initiated its reconstruction, preserving the unique appearance this historic building had. With this deal, a new page opens in the hotel's history."

In 2004, Hotel Yerevan became a member of the Golden Tulip hotel chain, and from 2013 to 2016, it joined the "Royal Tulip" high-class hotel chain of the same family as a 5-star hotel and was renamed "Royal Tulip Grand Hotel Yerevan". From 2016 until now, the hotel is part of the Small Luxury Hotels of the World network and is called Grand Hotel Yerevan.

Hotel Yerevan has been the symbol of our capital for 95 years and will remain so, staying committed to serve the purpose for which it was built. We will do our best to ensure the exceptional experience of the guests and to make their stay in Yerevan memorable and enjoyable,” said Alexander Yesayan, Co-founder of the Team Group of Companies, adding that no changes are foreseen in the hotel’s staff after the change of owner.

It should be noted that the transaction between the two companies was performed with the financing of Acba Bank.

The Team Group of Companies includes Team Telecom Armenia, Team Systems, Team Solutions, TeamPay companies offering innovative, engineering and technological solutions, as well as Buy.am online mall.