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Tsaghkadzor Ski Resort
Project Cost:
$ 42,400,000
Internal rate of return (IRR) -
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PROJECT DESCRIPTION
Investment Plan (1)
Disclaimer
Tsakhkadzor is a fast developing, cozy resort town, famous for its shining fields of snow, ropeway chair-lift, numerous respectable hotels and resort houses, as well as chic restaurants, recreation centers, camping and sport installations. Population of the city according to the 2011 census is 1256 people actively involved in hospitality and tourism industry.
Located on the southeast slope of Mount Teghenis, in a picturesque wooded valley on the left bank of river Marmarik, Tsakhkadzor (meaning “valley of flowers” in Armenian) is a truly unique place for skiers, who come here to taste the drive going down the magnificent mountain. Once a quiet destination, the town began to gain popularity as a skiing and winter location during the rush of Olympic training in 1988, further developing into a ski resort.
Currently, being popular among locals, Tsaghkadzor needs to be actively promoted as a popular desitination for tourism and there is a need for development towards that direction. The reason for this is that the area does not have well-elaborated identity and structure. There is a great potential for development and necessity for a proper trademark. Moreover, the nature of the area provides great opportunities, which has not been used yet.
The improvement works are cost-efficient and can be subject to completion by the summer of 2017. An improved resort can operate in the winter of 2017/2018. Finally, the full development of the area of Tsaghkadzor has the possibility to be actualized during 3-5 years.
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