Many hotels in Riga and Jurmala have changed hands and are under reconstruction, getting ready to satisfy demand from a growing influx of tourists. In addition, over the last few years Latvia has become a popular place to hold international events and conferences. That said, so far only a few international chain of hotels are represented in Latvia: Radisson Blu, Ibis and Mercure. Hilton and Kempinski have also declared they will arrive. However, the market continue changing and we anticipate that new players will enter the market.

Stages in the selection process for commercial property:

  1. Keeping the client’s key requirements and criteria in mind, we offer advice regarding current market conditions and recommend the optimal type of commercial property for them.
  2. We offer the client a few properties in the selected category, and also share the results of the analyses for feasibility and anticipated return, as well as its development potential.
  3. We supervise all the stages of the transaction – from the first meeting to meeting all the requirements of the parties and signing of the documents at the notary’s office.
  4. We will take upon ourselves to organise the property evaluation, in addition to the due diligence and negotiation process.

A few examples of the hotels sold by Silver Fox

Metropole Hotel
  • Property: two adjoining buildings in the Old Town. Total area – 4,150 m2
  • Despite numerous incumbrances, the transaction was successfully completed in five months.
  • Both buildings were fully reconstructed, and the hotel is now operating successfully.
Lielupe Hotel Complex***
Jurmala, Lielupe
  • Property: ten-floor hotel building with 217 rooms, a spa complex, bars, restaurants, cinema and conference halls. Next to the hotel there is an open pool, tennis courts and a car park.
  • This is the biggest hotel in Jurmala, and is situated in the pine forest within 200 metres of the beach.
  • The transaction was successfully completed in eight months.

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