Gazprom Sells Off Elite Real Estate After Record Losses

Gazprom is selling the Bogorodskoye Reception House hotel complex and the five-star Marriott Tsaghkadzor hotel complex in Armenia.

Russian state corporation Gazprom has begun selling off its luxury real estate. This is happening because it has suffered record losses in the company's history.

The company announced the sale of the Bogorodskoye Dom Priymov hotel complex. The total area of the four-story facility is 12,758.6 sq. m. It includes a wellness and spa center (hammam and sauna), a fitness center, a bar and a restaurant.

The hotel has 16 luxury rooms, two presidential suites and one guest house with four rooms. The adjacent territory includes a football pitch, tennis court, sports ground, chapel, artificial lake and Lotus rotunda, as well as stables. Gazprom expects to sell the property for no less than 833.9 million rubles. However, the advert states that the price has been reduced.

In addition, Gazprom has put up for sale the five-star Marriott Tsaghkadzor hotel complex, located in the famous ski resort of Tsaghkadzor in Armenia. The total area of the hotel is 14,284 sq. m. It consists of 100 rooms, 35 of which are located in seven cottages. The hotel has a fitness room, an indoor swimming pool, a sauna, a hammam, a billiard room, a tennis court, a basketball court and a spa center. The area of the surrounding area is 2.5 hectares.

Let us recall that Russia's largest gas company Gazprom became the most unprofitable company in the country, recording a net loss of $6.1 billion in 2023.