PASHA Real Estate Group and Marriott International have announced the signing of an agreement covering three new hotel and residential projects in Azerbaijan and Georgia. The announcement, made on 3 September 2026 in Baku, sets out plans for a The Ritz-Carlton hotel and branded residences in Zagulba, an extension of the existing Ritz-Carlton Residences in Baku, and a Le Méridien hotel in Tbilisi. The signing confirms the American group’s growing footprint in the Caucasus, a region it has identified as strategic for its development.
The signing ceremony took place at The Ritz-Carlton, Baku, in the presence of Ozgur Geter, Chief Executive Officer of PASHA Real Estate Group, and Neal Jones, President, Europe, Middle East and Africa at Marriott International, along with senior teams from both organisations.
A new Ritz-Carlton resort on Baku’s coastline
The first project will bring The Ritz-Carlton to the shores of Zagulba Beach, a popular seaside resort area north of Baku on the Caspian Sea. The property is expected to comprise 80 rooms and suites, complemented by several restaurants, an indoor pool, a fitness centre, a spa, a beach club and a The Ritz-Carlton Club lounge.
The project also includes The Ritz-Carlton Residences, Baku, Zagulba, which will comprise 282 luxury apartments and villas. Residents will have access to a clubhouse, a fitness centre, a swimming pool, a dedicated children’s area, a private cinema and direct beach access.
A new tower for the Ritz-Carlton Residences in 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. The extension is expected to add 238 further luxury residences, along with dedicated amenities including a lounge, a fitness centre and a swimming pool.
Le Méridien arrives in Tbilisi’s Chugureti district
In Georgia, Le Méridien is set to expand its presence with a hotel in the Chugureti district, in the heart of Tbilisi and one of the capital’s most dynamic areas. The property is expected to offer 152 contemporary rooms, several dining venues, meeting and event spaces, and a fitness centre. The hotel will reflect the brand’s signature codes, including the Le Méridien Hub, a reinterpretation of the traditional hotel lobby.
A partnership already well established in the region
These new projects build on a long-standing partnership between PASHA Real Estate Group and Marriott International, which already includes The Ritz-Carlton, Baku, The St. Regis Baku, the JW Marriott Absheron Baku, the Baku Marriott Hotel Boulevard, the Sheraton Baku Intourist Hotel, the Courtyard by Marriott Baku, and Pik Palace and Park Chalet, Shahdag, both affiliated with Autograph Collection.
Ozgur Geter, Chief Executive Officer of PASHA Real Estate Group, said that as a company, PASHA Real Estate was committed to shaping destinations that would contribute to the long-term growth and attractiveness of Azerbaijan and the wider region. He added that the projects reflected the company’s vision of delivering luxury hospitality and residential experiences that meet consumer expectations, while creating sustainable value for its communities and stakeholders.
For his part, Neal Jones, President, Europe, Middle East and Africa at Marriott International, highlighted the region’s potential, noting that Eastern Europe and the Caucasus remained an important growth area for Marriott, driven by rising travel demand, evolving hospitality infrastructure, and strong appetite among both consumers and owners for globally recognised brands. He added that these agreements reflect the group’s strategy of deploying a diversified brand portfolio capable of serving a varied clientele while meeting growing demand for premium lifestyle and luxury residential offerings.
At a glance by The Hospitality Tribune
PASHA Real Estate and Marriott sign three new projects in Azerbaijan and Georgia
The Ritz-Carlton Baku, Zagulba: 80 rooms and suites plus branded residences on the Caspian coast
The Ritz-Carlton Residences, Baku, Zagulba: 282 luxury apartments and villas
New tower extension at The Ritz-Carlton Residences, Baku: 238 additional units
Le Méridien Tbilisi: 152 rooms in the Chugureti district
Signing held on 3 September 2026 at The Ritz-Carlton, Baku
Builds on an existing portfolio of nine Marriott-branded properties in Azerbaijan
