Armenian Prime Minister Tigran Sargsyan participated in an opening ceremony of Aghveran Hotel as part of his visit to Kotayk region of Armenia.

Elite Group company purchased the hotel located 50km of Yerevan as a semi-constructed building in 2006. Currently, the holiday center occupies 60,000sq.m. and consists of 8 wings. Besides, it has bowling center, pool, tennis court, etc. $5mln was invested in the hotel.

"Previously, Abovyan used to be an industrial region with numerous plants. After the USSR collapse, many plants were shut down, resulting in job reduction. The region's social and economic development is of keen importance. Currently, the region's development is largely based on tourism, as a result of which tens of hotels and rest houses have been constructed there," the Prime Minister said, adding that European-class hotels are constructed in Kotayk region, what will stimulate international tourism.

PM Sargsyan also noted that the investments in the region are very effective. "It is important that the guarantees provided to Elite Group company as part of the anti-crisis policy have justified themselves," he concluded.