YEREVAN — Technotun, an Armenian developer company, and Europe’s largest hospitality company Accor from France signed a cooperation memorandum, Armenia’s Economy Ministry reported on Tuesday.

Technotun’s director Tigran Mnatsakanyan and Accor’s Chief Operating Officer Alexis Delaroff signed the deal.

According to the deal, the Technotun company will construct the Pullman Living and Residences Yerevan hotel complex in Yerevan’s Nork-Marash district for Accor. The investment project is expected to be worth over $100 million.

The complex will have a space of 20,000 square meters, including 16,000 square meters of publicly available infrastructure.

The Accor company was established in 1967 and now operates over 5,600 hotels, 10,000 restaurants and bars in more than 110 countries worldwide.

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