A new Hilton hotel will be built near Riga Airport

She said that the fund manager “I Asset Management” has signed a franchise agreement with the hotel chain “Hilton Worldwide” for a three-star hotel with 187 rooms to be developed near the airport “Riga”. The hotel will be called Hampton by Hilton and is expected to open provisionally in the first quarter of 2022.

The Airport Hotels Fund is investing in the construction of the hotel, which together with Orion Securities attracted the necessary investments for this project at the beginning of the year.

Kiseļūte mentioned that a competition was announced to select a hotel manager. The manager was chosen among three international hotel brands: iBis Styles (AccorHotels), Hampton by Hilton (Hilton) and Moxy (Marriott Intl). After evaluating the advantages of each manager, it was decided to choose the “Hilton” brand.

The first Hilton hotel in Latvia has been opened in Riga

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Ernest Kazbaras, head of I Hotels Asset Management, managed by Airport Hotels Fund, explained that the Hilton brand was chosen because the hotel brand provides lower operating costs while maintaining higher room rates compared to other products in this class. hotels. “In this case, it is believed that the smallest amount of investment helps to get a higher return on investment,” he said.

He also revealed that the international hotel management company Apex Alliance Hotel Management, which currently manages six hotels in three countries, has been selected to manage the hotel. The hotel manager plans to manage another 10 hotels by 2022.

The Latvian construction company “UPB” has been selected for the construction of the hotel.

Apex Alliance Hotel Management plans to open another international brand hotel in Riga within a year and a half to two years. “We want Riga to be a star of all the Baltic capitals, so we will continue to invest in the Latvian capital and continue to expand,” said Gerhard Erasmus, Head of Apex Alliance Hotel Management.

It is also reported that in the autumn of 2019, Apex Alliance Hotel Management opened the first Hilton hotel in Riga – Hilton Garden Inn Riga Old Town, located at 25 Grēcinieku Street, Riga.