Good for Business, Lithuania, Real Estate

Kestutis Vedeckis, CEO of the property development company Vastint Lithuania, said it will be the first Baltic hotel operated by Belvar, adding that the companies plan to sign a 20-year contract.  

"The arrival of such a player in the market and its decision to start its Baltic operations from Palanga is, undoubtedly, good news for the entire Western Lithuanian region," he told.  

Vedeckis said the new hotel will focus on business customers.  

Belvar CEO Mads Jacobsen said in a press release that the hotel will offer a capacity for 350 conference guests and 30 spa treatment rooms. 

"The hotel is superbly located just 50 meters from Palanga's world-renowned beach," he said. "There is no doubt that the city has a good standing as a destination during the summer months, but by offering conference and spa facilities, we seek to be attractive to visitors all year round." 

Belvar operates hotels under a portfolio of brand names including Moxy Hotels, Courtyard by Marriott, First Hotels, GARD and X Meeting Point. The company says it currently operates 50 hotels in 12 countries.

Courtyard by Marriott Vilnius is now the only hotel of the Marriott chain in Lithuania. Construction on a Moxy hotel in Kaunas is currently underway.