Lankaran Hotel and Resort Company has been established. This means that the hotel industry's leading group of companies Pasha Holding will be represented in Lankaran.
In Azerbaijan, the name of the founders is considered to be confidential since the summer of 2012. However, judging from the legal address (Port Baku Towers) and the name of the legal representative, it is not difficult to guess that the new company is precisely this holding.
Note that in Lankaran there are several big-name hotels (Qafqaz Sahil Hotel, Palmalife Lankaran Resort, AB Qala Hotel, and Khan Lankaran). Currently Gilan Holding is building another grand hotel complex there.
In 2013, Pasha Holding Ltd. on the basis of Pasha Hotels and Resorts founded Absheron Hotel Group. The new group includes hotels Four Seasons, JW Marriott Absheron Baku, Peak Palace and Park Chalet in Shakhdagh (a ski resort in Gusar), while three hotels are under construction in Baku (Intourist, Dinamo and Boulevard)
Pasha Holding was founded in 2006. It consists of at least eight companies, in which its founders control from 60% to 100% equity. The holding assets are 3 billion manat and the equity is 800 million manat. The structures of Pasha Holding employ more than 2,500 people.
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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