The government in Parnu, Estonia's summer capital where thousands of tourists flock annually, said this week it had found a buyer for the Rannahotell seaside hotel, which it intends to auction off at a starting price of 21 million kroons (1.34 million euros).
Earlier auctions organized by Parnu's municipal government to sell Rannahotell fell through after failing to attract bids.
Council officials said they would not disclose the name of the buyer before the auction is officially completed and results confirmed on Nov. 1.
The hotel and restaurant complex on the 15,258 square meter property is run by an operator under a rental agreement valid until 2018.
The posh Rannahotell is one of the most vivid examples of the 1930s functionalist architectural style in Estonia.
Hotel manager Aarne Kalbus said the bid had not been made by Scandic, though top officials from Scandic Hotels Eesti could not be reached for comment.