PASHA Real Estate Group and Marriott International have signed a deal to build three new hotel and residential properties in Azerbaijan and Georgia. The agreement covers a new Ritz-Carlton hotel and residences on Zagulba Beach near Baku, an expansion of the existing Ritz-Carlton Residences in Baku, and a Le Méridien hotel in Tbilisi. The signing took place at The Ritz-Carlton, Baku, with PASHA CEO Ozgur Geter and Marriott’s Neal Jones, President for Europe, Middle East and Africa, in attendance along with other executives from both companies.
The projects add to a partnership that already includes several well-known hotels in Baku, among them The St. Regis, JW Marriott Absheron, and Sheraton Baku Intourist. Marriott currently operates more than 10,000 properties across 148 countries and territories, according to the company. PASHA Real Estate, part of PASHA Holding, works across Azerbaijan, Türkiye, Georgia, Uzbekistan, Montenegro, and the United States, with a portfolio that includes hotels, resorts, shopping centers, and residential developments.
What’s Planned for Baku
The Ritz-Carlton Baku, Zagulba will be located on a stretch of coastline north of the city on the Caspian Sea. There will be 80 planned guestrooms and suites, along with an indoor pool, a fitness center, a spa, a beach club, and a Ritz-Carlton Club Lounge. The project also includes a residential component, The Ritz-Carlton Residences, Baku, Zagulba, which will have 282 apartments and villas.
Those residences are planned to come with their own set of amenities, including:
- A clubhouse
- A fitness center
- A swimming pool
- A kids’ club
- A cinema
- Private beach access
Separately, PASHA plans to add a new tower to the existing Ritz-Carlton Residences, Baku, which opened in 2023. The extension is expected to bring 238 more residences, along with a lounge, fitness center, and swimming pool of its own. No timeline for construction or completion was given for either the Zagulba project or the residential tower.
Le Méridien Heads to Tbilisi
The Tbilisi hotel will carry the Le Méridien brand and is planned for the Chugureti district, one of the city’s more active neighborhoods. It is expected to have 152 guestrooms, several dining venues, meeting and event space, and a fitness center. The hotel will also include a Le Méridien Hub, the brand’s take on a modern hotel lobby that also functions as a social space.
In a statement, Geter said the projects reflect the two companies’ relationship and their aim to deliver hospitality and residential experiences in the region. Jones said Eastern Europe and the Caucasus remain a growth area for Marriott, pointing to rising travel demand and interest from hotel owners in globally known brands.
PASHA and Marriott have worked together on hotel projects in the region for several years, and this agreement extends that relationship into new markets and property types.
