Tufenkian Areni Wine Resort

Project Details

Project Size
USD 15M
Industry
Hospitality
Project Type
Investment Advisory

Description

Riviera Capital CJSC advised Tufenkian Heritage Hotels on a USD 15M capital raise to develop a top quality 100 keys resort in Armenia. Construction of the wine resort began in 2018 and opening is expected in 2021.

The Tufenkian Areni Wine Resort is expected to contribute significantly to the development of wine tourism in Armenia in general, and benefit economic development in the region of Areni in particular. Situated in Areni, a gateway to Armenia's Southern Tourism Corridor, the resort is expected to catalyze the development of new regional touristic routes and help put Armenia on the map of global wine tourism circuits.