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Luxury Hotel in Riga

Country: Latvia Latvia
City: Riga
Location: City Centre
Category: 5 stars
Hotel type: Business Hotel
Transaction Type: 100% Asset Sale
Target Areas: European Union, Central Europe, Eastern Europe

Hospitality Review / Short Description:

High-tier corporate entity (the Entity) is in the process of developing 4 star hotel project in Riga, capital of Latvia. Now work is undergoing in preparation of hotel design project. It will be followed by obtaining construction permission, archeological explorations and construction of the hotel building. Construction works are expected to start early in 2025 and be completed by the end of 2026. The Entity considers 2 potential alternatives:
Alternative 1: sell the Project (land + all investments made into development so far)
Alternative 2: develop the project and lease it to reputable operator.

The hotel is located in Old Riga, being the touristic highlight of Riga.

Hotel Details

Bedrooms: 100
Total rooms: 100
No of Total Rooms available/year: 36.500

Financials

Asking Price: EUR 10.000.000
Price Per Room: EUR 100.000
Luxury Hotel in Riga
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