PASHA Real Estate Group and Marriott International have agreed to develop three new hotel and residential projects across Azerbaijan and Georgia, expanding their partnership in the Caucasus region. The agreements, signed at The Ritz-Carlton, Baku, cover a luxury resort on Zagulba Beach, a residential tower expansion, and a Le Méridien hotel in Tbilisi. The deal includes 80 guestrooms and 282 branded residences in Baku, alongside 152 rooms in Tbilisi.
Plans for Zagulba Beach Resort Unveiled
The planned resort at Zagulba Beach will sit along the Caspian Sea, north of Baku. The development will feature dining venues, an indoor pool, a fitness center, a spa, and a beach club. The Ritz-Carlton Baku, Zagulba will also include a club lounge for guests. PASHA Real Estate Group plans to add 282 luxury apartments and villas adjacent to the new resort.
This development will include a clubhouse, a kids club, a cinema, and private beach access. The company also intends to expand the existing Ritz-Carlton Residences, Baku with a new tower. This addition will provide 238 more units with a lounge, fitness facilities, and a swimming pool. These full amenities are designed to provide residents and guests with a complete lifestyle experience within the same resort complex, reducing the need to travel for leisure or dining options.
In Georgia, the new Le Méridien Tbilisi will be located in the Chugureti district. The hotel is slated to include 152 guestrooms, multiple food and beverage outlets, meeting spaces, and a fitness center. The property will also incorporate Le Méridien Hub, a space designed as a reinterpretation of the traditional hotel lobby. This concept emphasizes social interaction and modern connectivity, aiming to create a lively atmosphere for travelers to work, relax, and socialize during their stay in the capital city.
Expansion of Partnership in the Caucasus
PASHA Real Estate Group and Marriott International have an existing portfolio that includes The Ritz-Carlton, Baku; The St. Regis Baku; JW Marriott Absheron Baku; and several other properties in Azerbaijan. The new agreements reflect a continued focus on the Caucasus market. The existing portfolio demonstrates the partners’ established success in the region, providing a strong foundation upon which these new developments are being built to further enhance the local hospitality environment.
Ozgur Geter, Chief Executive Officer of PASHA Real Estate Group, stated that the projects aim to contribute to the long-term growth of Azerbaijan. He noted that the developments are designed to meet evolving consumer expectations and create lasting value for stakeholders. The expansion follows a pattern seen in similar real estate ventures, where developers often attach branded residential units to high-profile hotels to diversify revenue streams beyond transient guest bookings. Neal Jones, President of Europe, Middle East & Africa at Marriott International, described Eastern Europe and the Caucasus as a key growth area. He cited increasing travel demand and a strong appetite for globally recognized brands as drivers for the strategy.
The new projects are intended to strengthen the company’s presence in these markets while catering to travelers seeking premium lifestyle experiences. The [luxury branded homes market][1] is also seeing rapid growth. These residential components are not merely secondary additions but are integral to the master planning of each site, ensuring that homeowners have immediate access to world-class hotel services and facilities.
[1]: https://www.tristanportals.com/luxury-branded-homes.html