BAKU, Azerbaijan, September 4. PASHA Real Estate Group and Marriott International, Inc., announced this week a signed agreement to launch three new hotel and residential properties across Azerbaijan and Georgia. The planned projects include a luxury hotel and branded residences under The Ritz-Carlton along the shores of Zagulba Beach in Baku, along with the extension of The Ritz-Carlton Residences, Baku within a new residential tower. The agreement also includes the anticipated addition of a Le Méridien hotel in Tbilisi.
The signing ceremony for the new projects took place at The Ritz-Carlton, Baku in the presence of Özgür Geter, Chief Executive Officer of PASHA Real Estate Group and Neal Jones, President, Europe, Middle East & Africa, Marriott International, along with other senior leaders from both organizations.
“As a company, we are committed to shaping destinations that contribute to the long-term growth and attractiveness of Azerbaijan and the wider region,” said Özgür Geter, Chief Executive Officer of PASHA Real Estate Group. “These projects reflect our vision to deliver world-class hospitality and luxury living experiences that meet evolving consumer expectations while creating lasting value for our communities and stakeholders. Our relationship with Marriott has been built on a shared commitment to excellence, innovation and exceptional guest experiences, and we are proud to expand that collaboration through the introduction of new landmark developments under some of the world's most renowned brands.”
“Eastern Europe and the Caucasus remain an important growth area for Marriott, supported by increasing travel demand, evolving hospitality infrastructure and strong consumer and owner appetite for globally recognized brands,” said Neal Jones, President, Europe, Middle East & Africa, Marriott International. “These agreements reflect the momentum we are seeing across the region and our strategy to expand a diverse portfolio of brands that resonates with a wide range of travelers and trip purposes, while also catering to the growing demand for premium lifestyle and luxury living experiences. We look forward to expanding our relationship with PASHA Real Estate as we further strengthen our presence in these dynamic markets.”
The Ritz-Carlton Baku, Zagulba and The Ritz-Carlton Residences, Baku, Zagulba
The company is anticipated to bring The Ritz-Carlton’s legendary service and elegant design to the shores of Bilgah Beach, a sought-after seaside retreat north of Baku on the Caspian Sea. The Ritz-Carlton Baku, Zagulba is expected to feature 80 elegantly appointed guestrooms and suites in a beach resort location. Plans for the property include distinct dining venues and a range of facilities such as an indoor swimming pool, fitness center, spa, a beach club and The Ritz-Carlton Club Lounge.
The project is also anticipated to include The Ritz-Carlton Residences, Baku, Zagulba which will feature 282 luxury apartments and villas that aim to elevate daily life with sophisticated style and legendary service. Plans for the residences include dedicated facilities such as a clubhouse, fitness centre, swimming pool, kids club, cinema and private beach access.
Extension of The Ritz-Carlton Residences, Baku
Following the successful launch of The Ritz-Carlton Residences, Baku in 2023, PASHA Real Estate Group plans to develop a new tower within the existing site which is anticipated to feature 238 additional luxury residences along with dedicated amenities such as a lounge, fitness center and swimming pool.
Le Méridien Tbilisi
Le Méridien plans to expand its portfolio in Georgia with the addition of a hotel within the Chugureti district of central Tbilisi, one of the city's most vibrant and emerging neighborhoods. Le Méridien Tbilisi is expected to feature 152 contemporary guestrooms along with multiple dining outlets, meeting and events space and a fitness center. The property will reflect Le Méridien’s spirit of savoring the good life and feature signature brand programs and spaces, such as Le Méridien Hub – a modern reinterpretation of the traditional hotel lobby.
The newly signed projects further strengthen the collaboration between PASHA Real Estate Group and Marriott International which currently comprises The Ritz-Carlton, Baku; The St. Regis Baku, JW Marriott Absheron Baku, Baku Marriott Hotel Boulevard, Sheraton Baku Intourist Hotel, Courtyard by Marriott Baku, Pik Palace, Shahdag, Autograph Collection and Park Chalet, Shahdag, Autograph Collection.
About PASHA Real Estate Group
PASHA Real Estate Group, part of PASHA Holding, specializes in real estate investment, development, construction, strategic management, and asset operation. The company's geographic footprint covers Azerbaijan, Turkey, Georgia, Uzbekistan, Montenegro, and the USA. The group's portfolio includes elite hotels, world-class resorts, retail complexes, premium residential real estate, and multifunctional projects. Guided by the principles of quality, reliability, and customer focus, "PASHA Real Estate Group" strives to set new industry standards and ensure sustained growth in the value of its assets internationally. www.pasharealestate.az
About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of compelling brands across luxury, premium, select, midscale, extended stay, and all-inclusive, with over 10,000 properties in 148 countries and territories, as of June 30, 2026. Marriott franchises, operates, and licenses hotel, residential, timeshare, yacht, outdoor, and other lodging products all around the world. The company offers Marriott Bonvoy®, its highly awarded travel platform. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com
