Context
ANIF invested in Apaga Resort and Yell Extreme Park in Tavush to expand tourism infrastructure.
Objective
Upgrade hospitality and adventure tourism capacity while supporting regional employment.
Role
ANIF portfolio during Aleksei Veretenov’s tenure as Deputy CEO and Vice President for Strategy and Marketing.
Approach
- Approximately $1.6m of investments.
- Expansion of resort, restaurant and adventure facilities.
- Corporate governance arrangements.
Outcome
The 2022 report recorded 20% year-on-year revenue growth for the comparative period and a 25% ANIF stake at that reporting date.
Apaga Resort website