PASHA Real Estate Group and Marriott International Sign Multi-Property Agreement across Azerbaijan and Georgia
PASHA Real Estate Group and Marriott International, Inc., signed agreement to launch three new hotel and residential properties across Azerbaijan and Georgia.
Announcement
- Date: 3 September 2026
- Location: Signing ceremony at The Ritz-Carlton, Baku
Leaders Present:
- Ozgur Geter, CEO, PASHA Real Estate Group
- Neal Jones, President, EMEA, Marriott International
New Developments
1. The Ritz-Carlton Baku, Zagulba (Luxury Beach Resort)
- 80 guestrooms & suites
- Dining venues, spa, fitness center, indoor pool
- Beach club & Ritz-Carlton Club Lounge
2. The Ritz-Carlton Residences, Baku, Zagulba
- 282 luxury apartments & villas
- Amenities: clubhouse, fitness center, pool, kids club, cinema, private beach access
3. Extension of The Ritz-Carlton Residences, Baku
- New tower with 238 residences
- Lounge, fitness center, swimming pool
4. Le Méridien Tbilisi (Georgia)
- Located in Chugureti district
- 152 guestrooms
- Dining outlets, meeting/event space, fitness center
- Signature Le Méridien Hub lobby concept
Strategic Significance
- Strengthens Marriott’s footprint in Eastern Europe & the Caucasus, a region with rising travel demand.
- Expands PASHA’s vision of world-class hospitality and luxury living in Azerbaijan and Georgia.
- Builds on an existing portfolio in Baku: The Ritz-Carlton, The St. Regis, JW Marriott, Sheraton, Courtyard, and Autograph Collection properties.
Key Takeaways
- PASHA is positioning Azerbaijan as a luxury lifestyle destination with branded residences and resorts.
- Marriott is diversifying its portfolio to capture premium and lifestyle travelers in emerging markets.
- The collaboration reflects a long-term growth strategy for both companies, blending hospitality with residential living.
This agreement is a landmark expansion that not only boosts Marriott’s luxury presence but also cements PASHA’s role as a regional leader in destination development.
