Nestled along the road leading to the Stepanavan Dendropark, the “Tormak” Guesthouse has been welcoming visitors since 2019, steadily becoming one of the most beloved destinations for tourists exploring the Lori region. Named after the historic Tormak Monastery in the nearby village of Gyulagarak, the guesthouse has seen a consistent rise in visitors, creating a need for expansion.

Thanks to support from the “Rural Tourism Development Program”, jointly implemented by the ACBA Federation and the German Nature Conservation Union (NABU), the guesthouse was able to expand by constructing a new two-story guest room.

“The idea for a third room came when we started losing guests because we didn’t have enough space,” said Vruyr Ayvazyan, founder of the Tormak Guesthouse. “We had been thinking about it for a while, but it was only through the ACBA Federation and NABU program that we were able to make it a reality. We also offer our guests a complimentary excursion—by car to a nearby mountain farm, where they can walk, enjoy the scenery, and experience rural life up close.”

The guesthouse is especially popular during the pine tree pollination season, when the surrounding forests release natural substances known to benefit respiratory health. With its warm, family-like atmosphere, Tormak has built a loyal following of guests who return year after year.

The ACBA Federation is the major shareholder of ACBA Bank, holding over 81% of its shares. Through this strategic position, the Federation actively contributes to the development of agriculture, the growth of small and medium-sized enterprises in rural areas, development of community, the revitalization of local economies, and the improvement of livelihoods for individuals engaged in entrepreneurial activities across Armenia’s rural communities.

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