The hotel of the leading European hospitality brand “Accor” will open in Riga in October

The Accor hospitality brand group has signed an agreement with the Luxembourg holding company Financiere Le Rachinel to open a new hotel in Riga in October this year, Accor representatives informed LETA.

The new hotel will be located in the center of Riga, in a renovated building built in the early 20th century, which used to house the Valdemar’s Riga Hotel.

Following a renovation that will be completed in 2022, the hotel will operate under the Accor Group’s Tribe brand.

The new hotel will have 83 rooms, a restaurant, a bar, a sauna, conference facilities and a car park. The hotel’s investor is Accor Group’s long-term partner, Financiere Le Rachinel.

Dace Gaigala, a member of the Board of the Regional Investment Bank, told LETA that the new Accor Hotel will be built with a loan granted by the Regional Investment Bank.

She informed that the hotel building in Riga, Krišjāņa Valdemāra Street 23, where the new “Accor” chain hotel will be built, has been purchased by the hotel developer SIA “FLR Hotel Latvia” with a loan from the “Regional Investment Bank” in the amount of 2.8 million euros.

The company “FLR Hotel Latvia” was registered at the beginning of January 2020, and its share capital is 2,800 euros, according to Firmas.lv information. The sole owner of the company is Luxembourg’s Financiere Le Rachinel.

The Accor Group plans to open more than 50 Tribe hotels worldwide in the near future. In the next five years, it is planned to open a total of 150 new hotels worldwide.

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