Following the signing of the agreement between Green Rock and Hyatt Hotels Corporation and the official groundbreaking ceremony of Hyatt Regency Dilijan, held on July 25 in Dilijan, GEORGIA TODAY spoke with Katerina Danekina, CEO of Green Rock Management Group, about the vision behind this landmark project, the future of Dilijan as an international destination, and the role of responsible investment in Armenia’s regional development.
Hyatt Regency Dilijan will become the first Hyatt Regency hotel in Armenia and a key element of Green Rock’s multifunctional complex in Dilijan: an ambitious project that brings together hospitality, culture, education, business, and community spaces.
In this interview, Katerina Danekina shares insights into Green Rock’s long-term vision, the importance of international partnerships, the economic impact of the project, and how Dilijan can emerge as a year-round destination for travelers from Armenia, Georgia, and around the world.
Green Rock signed an agreement with Hyatt to introduce the first Hyatt Regency hotel in Armenia. What does this partnership represent for Green Rock, for Dilijan, and for the future of Armenia’s hospitality industry?
For us, this partnership represents much more than bringing an internationally recognized hotel brand to Armenia. It reflects our belief in the potential of Dilijan and in Armenia’s ability to create destinations that meet global standards.
When we started developing the Green Rock vision, we were not thinking about creating only a hotel. We wanted to build a place where hospitality, culture, education, business, and community life come together. The Hyatt Regency partnership is a significant milestone in this journey because it brings international expertise and experience into a project that is deeply connected with the identity and potential of Dilijan. As one of the world’s leading hospitality companies, with more than 1,500 hotels and resorts across the globe, Hyatt Regency will play an important role in introducing Dilijan to new international audiences while setting the highest standards of guest experience and service.
I believe this is also an important moment for Armenia’s hospitality industry. The arrival of a global brand such as Hyatt Regency demonstrates that Armenia is becoming increasingly attractive for international investors and travelers. It shows that our country has the potential to offer world-class hospitality experiences while preserving its unique character.
Why did Green Rock choose Dilijan for such an ambitious investment, and what makes the city attractive as an international tourism destination?
For us, choosing Dilijan was a combination of a personal story and a strategic vision.
Green Rock’s Founder, Mareta Gevorkyan, is originally from Dilijan, and this connection makes the city’s development deeply personal for her. Dilijan is the place where she grew up, where her family roots are, and a city with which she continues to maintain a strong connection. At the same time, Dilijan has unique strategic advantages. Its location makes it an important connection point between Armenia and Georgia, while its proximity to Lake Sevan and Yerevan International Airport further strengthens its potential as an accessible tourism destination.
Beyond its natural beauty and cultural heritage, Dilijan remains one of Armenia’s key tourism destinations, and interest in the city continues to grow. Over the past year, the number of visitors has increased by approximately 30%, while accommodation capacity has grown by around 35%.
Today, travelers are increasingly choosing Dilijan not only for short visits, but also for longer stays, to experience its forests, nature, cultural heritage, and the peaceful rhythm of life that makes the city truly unique.
When we looked at Dilijan, we did not see only a beautiful location. We saw an opportunity to create a destination where people would want to stay longer, return more often, and experience Armenia in a deeper way.
This project goes far beyond a hotel. Green Rock is creating a multifunctional destination that combines hospitality, education, culture, business, and community spaces. What is the vision behind this ecosystem?
From the very beginning, we asked ourselves a simple question: what does Dilijan need to become a destination where people do not just visit, but truly want to stay, return, and build connections?
The answer was to create an ecosystem rather than a single project. The future Hyatt Regency Dilijan hotel is an important part of this vision, this is core element, of a much larger destination that includes educational, cultural, and community-focused spaces. Through projects such as PPLS Rooms co-living, Villa3 Community Hub, Cabinet Café & Restaurant, Apicius Armenia hospitality school, Music Hall, Art Park, and other public areas, we are creating an environment where different communities can interact.
Modern travelers are looking for experiences, not just accommodation. They want places where they can learn, connect, work, relax, and discover local culture. This is the type of destination we want to create in Dilijan.
What kind of destination do you want Green Rock to become? Who are the visitors you hope to attract?
Our goal is to create a destination that welcomes different types of visitors and remains active throughout the year.
We want international travelers to discover Armenia from a new perspective, business guests to find a high-quality environment for meetings and events, families to enjoy nature and cultural experiences, and professionals and entrepreneurs to find inspiring spaces for work and collaboration.
That is exactly why we launched the Meet Dilijan initiative. Its mission is to position Dilijan as a year-round destination for international conferences, corporate retreats, business events, educational programs, and cultural gatherings. We believe that promoting Dilijan on international markets is just as important as developing its infrastructure, because a destination succeeds when people have compelling reasons to visit throughout the year.
Tourism in Armenia continues to grow year after year, and we believe Dilijan has every opportunity to become one of the country’s leading destinations. Through our ongoing initiatives and long-term investments, we expect to contribute to an increase of approximately 20% in Dilijan’s annual tourist flow.
At the same time, we want Green Rock to remain deeply connected with the local community. A successful destination is not only about attracting visitors; it is about creating value for the people who live there.
Green Rock is one of the largest private development projects in Dilijan. What is the scale of the investment, and what long-term economic impact do you expect it to have on the city and the region?
Green Rock represents an investment portfolio of approximately 160 million US dollars, reflecting our long-term commitment to Dilijan and Armenia. However, the true impact of a project is not measured only by the size of the investment. It is measured by the opportunities it creates. Once fully operational, Green Rock is expected to generate more than 800 jobs, including over 400 positions within the Hyatt Regency hotel. But the impact will extend far beyond direct employment. We believe the project will create new opportunities for local businesses, suppliers, producers, service providers, and entrepreneurs. As tourism grows, it supports the development of many connected sectors and contributes to the overall economic growth of the region. Education and professional development are also essential parts of this vision. Through projects such as Apicius Armenia hospitality school, Green Rock aims to contribute to the development of a new generation of hospitality professionals in Armenia. The school will provide opportunities for young people to gain international-level knowledge and practical skills, helping to build the talent base needed for the future growth of Armenia’s tourism and hospitality industry.
For us, investment is about creating lasting value: building not only infrastructure, but also opportunities for people. It is about creating an ecosystem where businesses can grow, professionals can develop, and local communities can benefit from long-term economic opportunities.
Dilijan is renowned for its forests, natural beauty, and cultural heritage. How do you ensure that development is carried out responsibly and in harmony with the environment?
Respect for nature is one of the fundamental principles behind our approach. Dilijan’s greatest strength is its unique environment, and we understand that any development must protect and respect this heritage.
At Green Rock, we approach development as a long-term responsibility. This means carefully planning projects, integrating them thoughtfully into the surrounding landscape, and applying international standards in design and construction. In our projects, we follow sustainable development principles, including the use of the EDGE green building standard, FIDIC contract management principles, and international best practices in construction.
We also believe that responsible development is about creating opportunities for people. By investing in hospitality, education, local businesses, and community-oriented initiatives, we want the benefits of growth to be shared with the wider community.
Georgia is one of Armenia’s closest neighbors and an important source of visitors. Do you see Georgian travelers as an important audience for Green Rock, and what experiences would you like them to discover in Dilijan?
Absolutely. Georgia is one of Armenia’s closest neighbors and one of the most important regional tourism partners. The connection between our two countries is built not only on geographical proximity, but also on shared history, cultural ties, and growing interest in regional travel experiences.
Tourism relations between Armenia and Georgia continue to develop, with Georgia consistently remaining among the leading international markets for Armenia. In recent years, Armenia has welcomed more than 200,000 visitors from Georgia annually, while overall inbound tourism to Armenia reached more than 2.2 million international visitors in 2024. These figures demonstrate the strong potential for further strengthening regional tourism cooperation.
We see great opportunities to develop joint initiatives between Armenia and Georgia, including combined travel experiences, cultural projects, festivals, conferences, and business events. By working together, we can create new opportunities for visitors to explore both countries and position the South Caucasus as a more connected and attractive destination.
For Dilijan, Georgia represents an important neighboring market. Located approximately three hours from Tbilisi, Dilijan can offer Georgian guests a unique experience combining nature, wellness, culture, authentic traditions, and international-quality hospitality. We would like visitors from Georgia to discover Dilijan not only as a place for a short visit, but as a year-round destination where they can return for leisure, cultural experiences, business events, and new discoveries.
Looking ahead, what is your long-term vision for Green Rock? What role do you hope the company will play in shaping the future of tourism and regional development in Armenia and the South Caucasus?
Our long-term vision is to demonstrate how thoughtful investment, responsible development, and international best practices can transform regions and create new opportunities.
Green Rock aims to become a benchmark for integrated destination development: a place where hospitality, education, culture, and community come together to create sustainable value.
An important part of our mission is also to contribute to raising the standards of the industries in which we operate. In our projects, we apply international standards and approaches that are not always mandatory in the Armenian market, but we believe they are essential for improving quality, increasing competitiveness, and bringing project implementation to a new level.
For example, Green Rock became the second company in Armenia and the first outside Yerevan to receive EDGE green building certification for a project. This reflects our commitment to sustainable development and our ambition to introduce higher standards in design, construction, and operations.
We want our projects to contribute to Armenia’s international image, attract visitors and investors, support local communities, and inspire new approaches to regional development.
Interview by Lana Kokaia
