EU – Baltic States, Investments, Latvia, Legislation, Real Estate, Tourism

Mors noted, however, that he has not yet become the official owner of the hotel building because the deal had yet to be closed, which is expected to happen in August this year.

Asked about the price of the acquisition, Mors said that it still could change, which is why he would not reveal any figures for now.

The businessman said he was buying the hotel together with his wife.

Mors promised more detailed information about the hotel’s future in August.

Danish entrepreneur Steen Lorenz, better known by his stage name Louie Fontaine, told LETA in May that he was selling the Fontaine Hotel Royal building in Liepaja to a resident of Latvia. He declined to elaborate on the deal, saying that it was not yet closed.

Earlier, Fontaine told LETA that potential buyers both from Latvia and foreign countries had been showing interest in the Fontaine Hotel Royal.

The entrepreneur said he wanted to sell the hotel because he involved in other activities, like travel and music, and had no time for running the hotel business.

Fontaine Ent., a company owned by Fontaine’s wife, planned to sell the hotel building for EUR 2 million. The nearly 5,000 square meters large hotel building comprises a SPA center, restaurant, gym and 52 hotel apartments.