The hotel spent 40 million kroons on rebuilding the foyer, the area
around the hotel, the second-floor bar and the rooms on the 13th floor.
Since its privatization six years ago, the hotel has made investments
totaling 270 million kroons, said Yrjo Vanhanen, its director. The
hotel was privatized in 1994 for 145 million kroons.
Vanhanen said the hotel was renovated from its own funds. About 90
percent of the hotel belongs to different Finnish companies.
Vanhanen said that the hotel has made an offer to the Tallinn City to
buy the neighboring property, but the City has not responded. At
present, the favourable land in the center of Tallinn is used as a
Viru Hotel has 22 floors, 11 of which have been renovated. The average
price of a hotel room is about 1,000 kroons, while modern rooms cost
about 1,700 kroons, said Anu Soosar, housing manager. She said that the
hotel has 203 employees and 750 beds.
"We want to be the best three star hotel in Tallinn," said Vanhanen.
"The satisfaction of our clients is more important for us than the
number of stars an appointed council may give us," said Vanhanen. "We
want to be like an international Holiday Inn."
Vanhanen said the market share of Viru hotel is about 20 percent with
about 80 percent of its clients from Finland.
By the end of the year, the hotel expects to make a 34 million kroon
profit and 180 million kroon sales. That is almost as much as the hotel
made last year, said Vanhanen.