You are on page 1of 71

PROJECT

BUSINESS
PLAN
2010

IN ASSOCIATION
PRESENTED BY: GARY H. BEDIAN, CLO
WITH
www.yerevanhotelproject.com

COPYRIGHT 2010 - BEDIAN INTERNATIONAL


PRESENTING
THE FIRST STATE-OF-THE- ART
HOTEL AND CONFERENCE
CENTER IN ARMENIA
A 4-STAR LUXURY HOTEL AND
CONFERENCE CENTER
PROJECT HAS THE
SUPPORT OF THE
ARMENIAN GOVERNMENT
From left to right, Gary Bedian,
Consul General of ROA, Grigor
Hovhannissian, Eddy Chao of
Asia Pacific Capital.

From Left to right, Dr. Aram Vardanyan,


Vice President of the Chamber of
Commerce and Industry of ROA, Martin
Sargsyan, President of Chamber of
Commerce and Industry of ROA, Gary
Bedian, President of Bedian International.

From Left to right sitting, Eddy Chao, Martin


Sargsyan, Gary Bedian, standing from left
to right, Araik Vardanyan, Executive
Director of the Chamber of Commerce and
Industry of ROA, Mayor of Yerevan, Gagig
Beglaryan, Dr. Aram Vardanyan
Gary Bedian with President
Serzh Sargsyan
EXECUTIVE SUMMARY
This Business Plan has been prepared with the goal of attracting
investors for the development of the Hilton Garden Inn and Conference
Center project in Yerevan, Armenia. The project is being sponsored and
developed by Bedian International, Inc., a leading hotel development and
management company in the United States. This is the culmination of
three years of planning, execution and investment in the project. The
land has already been purchased, architectural design plans have been
approved, the Hilton franchise preliminary agreement has been executed.
The project enjoys the full support of the Armenian Government as well
as the City of Yerevan Mayor’s approval. The Conference Center is a
Joint Venture with the Chamber of Commerce and Industry of the
Republic of Armenia. The project also includes at least 8 luxury
condominium units which will be sold. Current discussions also include
the prospect of a casino in the hotel. Bedian International is currently in
negotiation with a major Casino operator in Las Vegas. This will add an
additional revenue stream for the investment.
PROJECT
DEVELOPER
AND
SPONSOR

Bedian International was founded by


Gary H. Bedian in 1991. Since then,
Bedian International has been actively
involved in Armenia and the Armenian BEDIAN INTERNATIONAL
economy. Bedian International has an and
impressive list of clientele and hotel AFFILIATE OFFICES:
projects spanning the globe.
North America
Bedian International is an International Los Angeles, California
firm that specializes in Real Estate
Investment Banking and
CIS Countries
Development. We have expertise in
Real Estate Finance and Asset
Yerevan, Armenia
Management.
Middle East
Gary Bedian has about 20 years Beirut, Lebanon
experience in the Republic of Armenia
both in the private as well as the www.BedianInternational.com
public sector. In 1992, Mr. Bedian
was appointed Deputy Minister and
Chief Advisor for the Ministry of
Industry and Commerce for the
Republic of Armenia.

Mr. Bedian has represented some of


the wealthiest private investors in the
world in their real estate investments
and developments.
PROJECT SUMMARY
⊛ TOTAL PROJECT INVESTMENT $28,000,000

⊛ A 4-STAR LUXURY HOTEL AND CONFERENCE CENTER

⊛ 202 ROOMS, 40 SUITES WITH KITCHENETTES FOR EXTENDED STAY GUESTS

⊛ SPECIAL ACCESS FOR TOUR BUSSES AND LARGE GROUP ARRIVALS

⊛ 250 PARKING SPACES - COVERED AND GROUND LEVEL PARKING

⊛ FULL SERVICE BUSINESS CENTER

⊛ FREE SHUTTLE SERVICE TO AIRPORT AND CITY CENTER

⊛ INDOOR AND OUTDOOR SWIMMING POOL

⊛ EXERCISE FACILITIES WITH SAUNA

⊛ RESTAURANTS AND ULTRA LOUNGE

⊛ BANQUET FACILITIES

⊛ MEETING ROOMS AND CONFERENCE FACILITIES

⊛ 8 LUXURY RESIDENTIAL UNITS ON THE PENTHOUSE FLOOR

⊛ 55,000 SQ. FT. EXHIBIT AND CONFERENCE CENTER

⊛ ROOFTOP HELIPAD
ARMENIA
Ancient ~ Amiable
Geography
Armenia is a land with a mystical air that will at once capture your imagination,
evoking centuries past while awakening your senses to the present. It has a rich and
Area: 29,800 sq. km. (11,500
colorful history, interwoven with legends and lore such as the landing of Noah’s Ark
sq. mi.) slightly larger then
on Mount Ararat and Marco Polo’s voyages along the Silk Road. Armenians are an
Maryland.
ancient people with a strong sense of cultural identity. They have preserved their
unique culture through the centuries, keeping Old World traditions alive by integrating
Capital: Yerevan.
them into a modern way of life, so that the two compliment and enrich each other.
Terrain: High plateau with
Armenia offers something new for every explorer. From the Hellenistic temple of Garni
mountains and forests.
and the rock-carved churches of Geghard to ancient cave dwellings, mountain
monasteries, fortresses and thousands of unique Khathkars (stone crosses),
Climate: Highland
Armenia's fascinating history is etched into its very landscape.
continental, 4 seasons.
The wide range of natural beauty in this tiny country is astounding. You will encounter
mountainous landscapes, whitewater river canyons, deep forests and fertile plains.
With rugged and widely unspoiled landscapes, each region of Armenia offers a unique
experience to nature-lovers, hikers, and anyone with a desire to explore.

Armenia's strongest charm lies in the hearts of its people. The kindness and
hospitality of Armenians is sure to leave a lasting impression and make your visit an
unforgettable experience.
Capital: Yerevan
Population: 3.2 Million (2006)
MAP OF REGION AND Religion: Christian (Armenian Apostolic)
Language: Armenian (94%)
COUNTRY STATISTICS Currency: Armenian Dram
GDP: $12,069 million (2008)
GDP growth: 10.3% (2008 est.)
GDP per capita: $3,698 (2008)
ARMENIA
Land of Rugged Beauty
Armenia comprises some of the world’s
most stunning mountain chains, valleys
and river gorges. The country is a flower
lover’s haven, with 3500 species thriving
on its mountainsides. 349 species of
birds migrate through Armenia en route
to Europe and Africa, several of which
are rare or endangered. The country is
also home to the rare Caucasian
leopard, mountain goat and ram.

The wide range and complexity of flora


and fauna in Armenia is truly astounding.
This tiny country is home to most of the
world’s ecological zones; half of the flora
found in all of Europe and two thirds of
its birds.
YEREVAN
The Cosmopolitan City
Yerevan, the capital of Armenia, is situated along the Yerevan, Armenia’s capital, is one of the
Hrazdan River. The master architectural plan for modern oldest cities in the world. It was
established in 782 BC by the Urartian
day Yerevan was drawn up by Alexander Tamanian from King, Argishti I. Today, it is a thriving
city, with the excitement, hustle and
1924 to 1926. According to Armenian tradition, the name bustle of a modern capital. Yerevan is
truly a fascinating place, with a fine
of Yerevan is derived from an expression exclaimed by balance of a fast-paced urban lifestyle,

Noah in Armenian while looking in the direction of Yerevan, and a keen sense to its history and
ancient roots. The city is currently
after the ark had landed on Mount Ararat and after the flood undergoing a major construction boom.
There are cultural events year round
waters had receded: “Yerevats” (it appeared). attracting tourists from all over the
world.
Republic Square

YEREVAN
The Cosmopolitan City
Map of Downtown

Zvartnotz Airport
YEREVAN
The Cosmopolitan City
SITE SELECTION
Bedian International has been an active participant in the Armenian Economy
since 1991. We have vast knowledge of Armenia, the city of Yerevan and the
Caucuses in general. The project site selection was carefully orchestrated by
Mr. Gary Bedian who has made no less than 120 trips to Yerevan in the last 20
years. As such, after much search and deliberation, the best suited site was
picked for the following reasons:

• The City of Yerevan is already congested and traffic gridlock is commonplace.


• Properties in the City Center of Yerevan demand very high per square meter 24 HOUR FREE SHUTTLE
prices and are mostly comprised of small lots with existing buildings that SERVICE TO AIRPORT AND
need to be demolished and existing tenants bought out. CITY CENTER
• High prices make it prohibitive to build anything less than a 5 Star Hotel and
would make it a necessity to build a high-rise project.
• The location of our site is 6 kilometers from the Airport and 7 kilometers from
the City Center. It takes less than 10 minutes either way. We will provide 24
hour free shuttle service to the Airport or City Center.
• The site comprises of 2 hectares which is approximately 5 acres allowing
ample room for all facilities and amenities.
• Proximity to the American Embassy and the future Chinese Embassy makes it
an ideal location for embassy staff, contractors and visitors for short or
extended-stay.
SITE SELECTION
Cont.
• This area is a developing area and a natural extension to the City
Center expansion. This is evidenced by the construction of the
American Embassy, the proposed Chinese Embassy, the new Toyota
Dealership and Service Center, the Fiat and Lada Dealerships.
• The property lies on the main highway to the Airport and the City
Center with easy access to all touristic attractions and destinations.
This is also the highway that goes to Echmiadzin and Ashdarag.
• The site provides breathtaking views of Mount Ararat and Lake
Yerevan as well as the skyline of the City of Yerevan.
• All utilities and services are already nearby and can easily be tapped
for this project.
• The main natural gas line runs parallel to the front of the property. We
are considering the installation a CoGen Power Plant which would
provide all electricity and heating for the property off grid.
• The relatively large size of the lot will give us a distinct advantage over
the competition by providing ample parking and easy tour bus access.
• The lot is flat and unobstructed by other structures as well as easily
accessible by the main highway, which will translate to construction
cost savings.
SITE

HOTEL DEVELOPMENT
SITE
BRAND SELECTION
After extensive research and investigation, Bedian International has chosen the Hilton
Garden Inn as the best performing brand for the site for a variety of very compelling
reasons:

• Hilton is one of the only hotel companies with a breadth of leading brands, spanning
the lodging segments from luxurious full-service hotels and resorts to extended-stay
suites and mid-priced hotels.
• Hilton is a name that is synonymous with first-class hospitality. For almost 90 years,
the Hilton Family has been offering the business and leisure traveler worldwide the
very finest in accommodations, service, amenities and value.
• The Hilton HHonors guest reward program is the only program to let members Double
Dip to earn both HHonors points and airline miles for the same stay and enjoy hotel
rewards with No Blackout Dates - at any of more than 3.000 Hilton Family hotels.
• Hilton Garden Inns are designed to be warm and inviting, yet functional, providing
quality accommodation and facilities at an invitingly attractive price. The hotel is Gary Bedian with Michael Collini,
designed to maximize flexibility whilst simultaneously controlling costs, offering guests VP Development, Northern Europe,
the attentive hospitality and quality facilities they want at the price they can afford. Hilton Worldwide.
• Hilton Garden Inn enjoys all the attributes associated with the world’s most famous
brand, Hilton. But, with its own distinctive brand identity, unique facilities and an
average of 150 rooms, Hilton Garden Inn hotels are designed to appeal to a specific
audience of mid-market business travelers or leisure guests in key commercial airport
and destination locations.
BRAND SELECTION
Cont.
• Armenia currently has only one major recognizable brand in Yerevan,
the Marriott. The entry of a Hilton Garden Inn is an easier way of
getting the Hilton brand recognition without the full investment of a Full
Service, 5 Star Hilton Hotel.
• This would allow us to compete with the 5 Star Marriott with a 3 Star
price structure, without compromising the amenities and facilities. In
fact, our rooms will be larger and will have more Western standard
amenities.
• The lower cost of building a HGI product will allow us to invest more in
restaurants, banquet facilities, conference facilities, swimming pools,
spa and other amenities which are all slated to be income producing,
self sustaining profit centers.
• The location of the property is strategically located mid-way between
the City Center and the Airport. It is just one kilometer from the U.S.
Embassy. We plan on providing 40 Extended Say Suites with
Kitchenettes as a convenient and economical alternative for the
Embassy staff, contractors, and visitors. The Hilton Garden Inn brand
is a familiar and trusted name for Americans. The Chinese Embassy is
slated to be constructed nearby as well.
THE HILTON BRAND
THE FOUR PILLARS OF
GUEST SATISFACTION
The core proposition of Hilton Garden Inn is built on four main
concepts, each designed to offer customers an enhanced
and memorable guest experience.

• Work Smart - With outstanding facilities for remote working


as well as access to business centers, guest rooms
effectively act as a mobile office.
• Deep Sleep - Patented Garden Sleep System ensures
guests wake refreshed and ready to face the day.
• Stay Fit - Complimentary workout facilities, branded Stay Fit
Kits and pool facilities encourage healthy guest bodies and
minds.
• Eat Healthy - From unique Pavilion Pantry to Room Service,
guests enjoy healthy 24 hour nourishment in all forms and
varieties.
WORK SMART

⊛ A generously sized desk


)
⊛ High quality desk lighting
⊛ Telephone with data-ports and voicemail
⊛ Complimentary desk-level wired and wireless high
speed Internet access

⊛ A stylish and comfortable ergonomic Mirra Chair


designed by Herman Miller

⊛ 24 hour business center


⊛ Meeting rooms
⊛ Conference facilities
DEEP SLEEP

⊛ Patented innovative high-tech Garden Sleep System


)
⊛ Self-adjusting beds that adapt to the body
⊛ 24 INCH HD LCD Television
⊛ Cable TV
⊛ Refrigerator and coffee maker
⊛ Iron and ironing board
⊛ Adjustable lamp and nightstand
⊛ Hilton Garden Inn MP3 alarm clock
⊛ Hair-dryer
STAY FIT
Today’s busy lifestyles mean that keeping fit is
essential. Hilton Garden Inn’s outstanding fitness
facilities enable busy travelers to stay fit in mind
)
a s w e l l a s b o d y. Amenities include
complimentary, well-equipped workout facilities
and swimming pool.

With Hilton Garden Inn’s unique Stay Fit Kits,


guests can simply relax and work out in their
room. It’s simple, easy and personalized.
EAT HEALTHY AND
WELL
Whether on the road or on vacation, Hilton Garden Inn
)
guests enjoy an exhilarating breadth of choices. The
Pavilion Pantry, located close to the lobby area, is open 24
hours a day for snacks, beverages, sundries and meals.

Full-service restaurant

Our convenient full-service restaurant offers an appetizing


selection of hot and cold dishes. The buffet style breakfasts
include an element that can be cooked to guests’ wishes Three Meal
and served to order. In addition to traditional breakfasts, it Restaurant
also offers a wide variety of salads, fruits and juices.

Room Service

Evening room service is available during the restaurant


opening hours for those guests who want to relax and dine
in the comfort of their own room.
BUILDING
ELEVATION
RENDERING
OVERALL LAYOUT

Project Site
)
The only hotel in
Armenia with a
Helipad
BUILDING
ELEVATION
RENDERING

)
BUILDING
ELEVATION
FRONT DETAIL

)
BUILDING
ELEVATION REAR
DETAIL

)
PRELIMINARY SPACE ALLOCATION PROGRAM
202 ROOMS

Space Circulation Total


Guest Rooms
Guest Rooms 77,759 9,331 87,090
Guest Room Support Areas 5,095 510 5,605
82,854 9,841 92,695

Public Space
Main Lobby 4,300 645 4,945
Pub/lounge/Signature Restaurant 4,375 656 5,031
Restaurants 4,960 744 5,704
Ballroom/Exhibition (Inc. Pre Function) 17,600 1,760 19,360
Restrooms/Telephone 2,900 290 3,190
Conference Rooms 24,540 2,454 26,994
Health Club/Spa 7,475 748 8,223
66,150 7,297 73,447
PRELIMINARY SPACE ALLOCATION PROGRAM
202 ROOMS

Space Circulation Total


Support
Kitchens/Food Prep 4,300 430 4,730
Administrative Office 2,070 207 2,277
Human Resources/Security/purchasing 920 92 1,012
Dock/Storage 4,445 445 4,890
Housekeeping/Laundry 1,980 445 2,425
Mechanical 3,000 0 3,000
Maintenance 1,600 160 1,760
Employee Facilities 1,150 115 1,265
Sales/Conference Offices 1,030 103 1,133
Business Center 1,540 154 1,694
Conference Lobby 1,350 162 1,512
Conference Center Services 1,600 160 1,760
24,985 2473 27,458

Total 173,989 19,610 193,599


PROJECT SITE PLAN
GROUND
FLOOR DETAIL
PLAN
FIRST
FLOOR
PLAN
SECOND
FLOOR
PLAN
THIRD
FLOOR
PLAN
FOURTH
FLOOR
PLAN
FIFTH
FLOOR
PLAN
SIXTH
FLOOR
PLAN
SEVENTH
FLOOR
PLAN
EIGHTH
FLOOR
PLAN
ROOF
FLOOR
PLAN
RESIDENTIAL UNITS ELEVATION
PUBLIC AREA
ELEVATIONS
DOUBLE ROOM
LAYOUT
KING ROOM LAYOUT
TWIN ROOM
LAYOUT
Modular kitchenettes
as well as fully
equipped larger suites

KITCHENETTE ROOM LAYOUT


PHILLIPS 24 INCH LCD FLAT SCREEN TV

HERMAN MILLER MIRRA CHAIR


VIEW TOWARDS SLEEP SYSTEM BED
WINDOW HIGH SPEED INTERNET CONNECTION WITH WI-FI

SIGNATURE BOLSTER CUSION


VIEW TOWARDS
ENTRANCE
SUITES AND EXTENDED
STAY UNITS
GUEST-ROOM FURNITURE AND FINISHES
BATHROOM
CLOSET AND ROOM
AMENITIES
VIEW OF LOBBY
INTERIOR
LOBBY FURNITURE AND FINISHES
VIEW OF BAR AND
LOBBY SEATING AREAS
LOBBY BAR FURNITURE AND FINISHES
VIEW OF HOTEL
RESTAURANT INTERIOR
RESTAURANT FURNITURE AND FINISHES
Indoor Pool

OUTDOOR POOL AREA


ULTRA LOUNGE

FLOOR PLAN
SIGNATURE
RESTAURANT, BAR
AND ULTRA LOUNGE
ALSO FEATURES VIP
CIGAR LOUNGE WITH
ULTRA LOUNGE
HUMIDOR AND PRIVATE
LOCKERS
ULTRA LOUNGE
FURNITURE AND FINISHES
SIGNATURE
RESTAURANT

FLOOR PLAN
INDOOR & OUTDOOR
INDOOR AND
OUTDOOR
SIGNATURE
RESTAURANT
SIGNATURE RESTAURANT
FURNITURE AND FINISHES
DEVELOPMENT
TEAM
PROJECT DEVELOPMENT TEAM
( GARY H. BEDIAN, CLO

Project Developer and


Sponsor
( RICHARD ALTER

Project Co-Developer
and Sponsor
( EDDY L. CHAO, CCIM,
SIOR

Project Co-Developer
and Sponsor
www.bedianinternational.com
CONTACT: GARY H. BEDIAN

CELL PHONE: 310-597-5823

EMAIL: gary@bedianinternational.com

www.yerevanhotelproject.com
GARY H. BEDIAN, CLO