Absheron Hotel Group Unveils Achievements of This Year
Ltd Absheron Hotel Group announced about their achievements in 2015. During the reporting period, the hotel Park Chalet Shahdag opened, the tourist complex Shahdag completed its second winter season, and an agreement to join the group of four hotels in the Autograph Collection was signed. In addition, an agreement was reached with the Ministry of Education for the establishment of the Baku vocational school №5 with special training programs in hospitality management.
Park Chalet Shahdag successfully held the winter season with the Hotel Pik Palace Shahdag run since December 2013. The main task of the two hotels in the season was to provide first-class service and an increase in the number of local and international tourists visiting the complex Shahdag. The growing number of tourists this year took place thanks to the improvement of the general infrastructure of the resort, achieved thanks to the support of the state. Thus was launched the new line of lift, which provides an opportunity for skiers to use six new ski runs with total length of 16.8 km. The construction of the central square of Shahdag was completed. Five new restaurants and bars, including the first ice Bar in Azerbaijan, was finished The administration of the complex Shahdag reported that this year the complex was visited by 90 000 tourists versus 80,000 last season and 50,000 in the first season of 2011-2012. Most visitors to the resort are the citizens of Azerbaijan.
Since April the hotels Pik Palace and Park Chalet Shahdag have been seasonally closed. These new hotels will open their doors to visitors in December.
Boulevard Hotel with up to 818 rooms and Intourist Hotel with 150 rooms located in Baku will join the Autograph Collection this month. These hotels will open their doors to the first European Olympic Games in June 2015.
Absheron Hotel Group is in Pasha Holding. The Group owns Four Seasons Baku and JW Marriott Absheron. This year Dinamo Hotel is also planned to open in Baku.--08D--
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review