Lido, Latvia's brand-name restaurant and catering company, announced that it posted 18.3 million lats (26.1 million euros) in sales last year, a 15 percent rise year-on-year. Earnings reached 944,300 lats, up 63 percent. Lido, the largest public catering company in Latvia, has seven branches and also processes meat and fish. It was founded in 1991 by Gunars Kirsons, who is the sole owner.
A new five-star hotel to be opened on Vene Street in Tallinn's Old Town signed a cooperation agreement with Small Luxury Hotels of the World. "This is our first partner hotel in the Estonian capital, which is in line with the SLH strategy of developing a strong hotel base in Eastern European destinations that have a firm growth potential in the future," said SLH managing director Paul Kerr. The Telegraaf Hotel, to be opened in September, will have 86 bedrooms and a restaurant, Tchaikovsky, with Russian cuisine. A total 200 million kroons (12.8 million euros) will be invested into the hotel. SLH is represented by more than 360 hotels in nearly 60 countries.
Philip Morris Lietuva said it would pour over 20 million litas (5.8 million euros) into the expansion of its Klaipeda-based plant and has selected Constructus, a construction company, as the key contractor. "The expansion of this plant is a continuation of our investments in Klaipeda. It will provide the company with additional flexibility for the supply of its products to Lithuania's consumers and to foreign markets," CEO Edvinas Katilius said in a statement. The plant's manufacturing area will grow by over 3,000 square meters to more than 13,000 square meters.
