One of the seaside hotels in the Estonian tourism sector has gotten a reprieve as a Stockholm’s East Capital has acquired the property from bankruptcy proceedings. East Capital has acquired Laulasmaa Spa Hotel, a resort and spa on Estonia’s northern coast. The hotel had been suffering severe financial issues due to a decrease in tourism.
However, East Capital believes the Estonian tourism sector is well positioned to grow in the future, making the timing of the acquisition just right.
Laulasmaa Spa Hotel
Laulasmaa Spa Hotel is a 3.5-star hotel located on coastal property roughly 35km from Tallinn. The hotel features 400m of sandy beach, 13ha of land, and a total of 150 rooms. The hotel’s spa is designed to provide the ultimate in relaxation and tranquility for visiting guests.