RIGA - A Latvian representative of Colliers International, a global real estate firm, said last week that Riga's dearth of large, modern buildings is preventing major international chains from investing in the capital.
On March 3, evaluation and consulting department director Aldis Duntavs told the press that international hotel chains required large buildings in good locations to come to Riga. He said the development of degraded waterfront territories could facilitate the process. For example, there are currently plans to build two internationally-run hotels in the Andrejsala area, which runs along Riga's Daugava River.
Mihails Morozovs, general director of Colliers International in the Baltic states, told the Baltic News Service that hotel operators such as Hilton and Intercontinental were looking for buildings with more than 100 rooms, but there were few such examples in Riga.
Janis Jenzis, president of the Latvian Association of Hotels and Restaurants, said that international hotel chains were inquiring about possibilities to open business in Riga, but he could not give specific names.
The decision would depend on the policy of the given operator, he said, adding that international chains could benefit Riga's tourism industry. Besides bringing in more business, the chains' well-developed marketing strategies are a sure win.
Colliers International is one of the world's largest real estate consulting companies, operating in 50 countries.
