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Wednesday, 21.05.2025, 05:54
East Capital will resurrect Laulasmaa spa in Estonia
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The property had been for sale for a long time as initially at least 96 million EEK was asked for it. One bidding by the bankruptcy governor failed in January this year too.
East Capital said that he sees good growth potential in the spa and hotels business. “Laulasmaa Spa is an exceptional place at a sandy beach near Tallinn where everything exists for first class vacation and spa service,” said East Capital Private Equity deputy director and real estate sphere manger Biljana Pehrsson.
The spa complex has been closed since March last year. The property belonged to AS Fablio, parent company of OÜ Laulasmaa Resort that has by now ended operations. Its predecessor that belonged also to Fablio also ended with bankruptcy. E24 wrote in March last year that the owner of the spa Tõnu Laak sends companies managing the hotel to bankruptcy one after another.
The renewed spa should start operating in June this year.
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