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

Rokk said that no schedule can be talked about yet since financing is being looked for at the moment. "I am ready to develop, when they come and they will come when financing has been organised," Rokk said, adding that his aim is to get construction plans in place at the moment. The hotels would be built in central Tallinn.

Accor, which manages 3,555 hotels in 92 states, would come to Estonia with its Adagio and Ibis brands.

In addition to Accor, the globally known Hilton Worldwide hotel chain should be opened in Tallinn by December 2015. The Hilton hotel will be built in Tallinn by the Olympic Entertainment Group, the board chairman of which Madis Jääger said that the contract was preceded by several years of negotiations. "If in addition to Hilton, other international players come to Tallinn, it is the surest sign that the potential of the market is considered to be good," said Jääger.

In August 2013, 324 accommodation establishments operated in Tallinn, of which 55 hotels, 11 guest houses, 17 hostels, 226 guest apartments, 12 home accommodations, 1 holiday village, 2 holiday cottages.