EU – Baltic States, Good for Business, Investments, Latvia, Real Estate, Tourism

Earlier it was planned that the Pullman Hotel in Riga will be opened in the summer of 2015, but the construction works took longer because of the complicated project – some of the wings of the hotel had been built at different times, for example, one of them even in 1789.

The hotel has 155 rooms. Earlier it was planned that investments will reach EUR 20 million, but now the total investments have not been estimated yet.

The hotel also features a restaurant open 24 hours, five meeting rooms, one private dining hall, and two conference halls for between 150 to 200 guests, as well as a fitness and wellness center, which includes a pool and two saunas.

The hotel also operates three restaurants – Equus, Vinoteca and Tea Deli.

Pullman Riga has been opened by the project investors Wisher Enterprises LV in cooperation with Polish hotel chain Orbis Hotel Group and European hotel operator AccorHotels.

Wisher Enterprises LV belongs to Cyprus-registered companies Naidoo Holdings Limited (50%), Axost Investments Limited (25%) and Casnix Investments Limited (25%). In 2014, Wisher Enterprise LV generated EUR 2.09 million in sales and sustained loss worth EUR 374,630, according to Firmas.lv business database.

Accor or AccorHotels (since June 2015) is a French hotel operator working in 92 countries. AccorHotels is working with such budget class hotels as Ibis Style, Ibis Budget, medium-class hotels Mercure, Novotel, and upper-class hotels Pullman, Grand Mercure, Mama Shelter, and luxury class hotels Sofitel.

AccorHotels in 2014 generated EUR 5.45 billion in turnover and earned EUR 223 million in profit.