Cologne, 5 October 2011 – An affiliate of Event Hotel Group has purchased the 280-room Radisson Blu and adjacent office building in Tallinn, Estonia. The city center high-rise Radisson Blu will continue to operate under the Radisson Blu flag under management of Event Hotel Group.
“ Tallinn’s robust RevPar growth is in excess of 30% year-to-date and there is no new supply in the pipeline after going through some challenging times in the recent past. Becoming a member of the EU, some 10 additional flights to Tallinn, being the Cultural Capital of Europe and a meaningful increase of Russian visitors underpin our confidence in buying this highly visible hotel with a major brand recognition in the Baltics, Scandinavia and Russia “, sais Anders Braks, CEO of Event, a major international hotel owner and investor.
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“Our business plan for this unique hotel asset includes revenue enhancement initiatives, improvement of internal technological and operating systems, vigilant oversight of all cost-containment and major capital allocation initiatives such as a comprehensive renovation of all guest rooms, enlarging of prime corner deluxe rooms, the penthouse restaurant and creation of the ‘living lobby’ concept”.
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