EXCLUSIVE: Azerbaijani Ex-Autocrat's Son Buys Back Luxury Hotel Sold Amid Political Upheaval

The son of the autocratic former ruler of an autonomous Azerbaijani exclave has quietly resurfaced as the owner of a luxury hotel on Georgia’s Black Sea coast — more than two years after he sold it in the wake of his father’s abrupt resignation.

Rza Talibov — whose father, Vasif Talibov, presided over the isolated territory of Nakhchivan for almost three decades — agreed in May to pay $8.6 million to buy back the hotel in the coastal city of Batumi, according to a publicly-available share purchase document.

Reporters also found that the 43-year old, who works as a senior immigration official in the Azerbaijani capital of Baku, has further expanded his real-estate holdings on Georgia’s coast.

The hotel in Batumi was called Divan Suites when Rza Talibov owned it the first time around. He sold it in January 2023, three weeks after his father stepped down as Nakhchivan’s ruler amid pressure from the central government in Baku, OCCRP has previously reported. 

In an emailed response to questions, Rza Talibov said the recent purchases of the hotel and a seaside property were funded with loans from Georgian and Azerbaijani banks. He said the 2023 sale and recent repurchase of the hotel was a strategy for “divesting assets and investment into other potential targets.” 

The share purchase document revealing that Rza Talibov regained control of the property in May this year shows that the hotel has been rebranded as London 1889. He acquired the property by purchasing 100 percent of the shares of B-Pearl Turizm LLC, the firm that owns London 1889 through a subsidiary.

Images on booking sites show that the hotel’s rooms are decorated with framed photos of iconic landmarks from London, including Big Ben and St. Paul’s Cathedral.

Property records show that Rza Talibov quickly used B-Pearl Turizm as a vehicle to purchase more real estate in the area. In July, the company paid $730,000 to acquire a 2,082-square-meter plot in Makhinjauri, a coastal community on the outskirts of Batumi.

An “amend order” acquired from Batumi City Hall shows that the municipal government in August designated B-Pearl Turizm as the owner of development plans for the site. The document shows plans for an 11-storey residential building, featuring sea-view apartments.

The recent property purchases mark Rza Talibov'a return to the real estate business in Georgia, only a short time after his family’s fall from power in Nakhchivan.

Rza Talibov’s father, Vasif, was appointed Chair of the Supreme Assembly of the Nakhchivan Autonomous Republic in 1995 by Azerbaijan’s then-president Heydar Aliyev. Nakhchivan is cut off from the rest of Azerbaijan and borders Armenia, Turkey, and Iran. Under Talibov’s rule, the territory became known as “Azerbaijan’s North Korea,” notorious for its secrecy and brutal state violence.  

The Talibov family accumulated substantial wealth during the patriarch’s 27 years as ruler of the enclave. Assets included Nakhchivan Bank, which was 100-percent owned by family members.

A 2022 OCCRP investigation revealed that Rza and his brother, Seymur, received over $20 million in suspicious wire transfers from shell companies. The firms were part of the Azerbaijani and Troika Laundromats, two massive money laundering systems previously uncovered by OCCRP. The brothers also bought properties in the United Arab Emirates and Georgia worth an estimated $63 million.

Rza and Seymur did not respond to requests for comment at the time. Rza declined to comment on the transactions in his recent response to questions.

In late 2022, the Azerbaijan government — now led by Heydar’s son, Ilham Aliyev — began cracking down on the Talibov administration. The government in Baku has never explicitly explained its motivations, but a statement from Aliyev’s office at the time said Nakhchivan’s new administrator would be instructed to “fight against corruption.” 

Vasif Talibov abruptly resigned his post on December 21, 2022, and the family quickly began divesting their assets.

The Talibov family sold their shares in Nakhchivan Bank, while Rza and Seymur transferred ownership of properties. Among those transfers was the hotel in Batumi, which Rza acquired again in May by taking over the company that owns the property.

“Holding of shares/participatory units in legal entities is not prohibited under local laws of Azerbaijan for public officials,” Rza Talibov noted in his response to OCCRP.