The Business Center Hotel is a Kyrgyz-Canadian Joint Venture, founded by the Academy of Management under the President, and Scotia Glenayr Inc., a private Canadian corporation, headquartered in Toronto, Canada. In August 1994 the two partners agreed to set up a company to operate in the hospitality market of Bishkek. The Joint Venture took over the 4th floor of the existing Academy complex. In April of 1995, after complete renovation of the premises, the company was officially registered under the name of the Business Center Hotel and opened for business.