Riga, Latvia: Are Too Many New Hotel Rooms Checking In?
The number of new hotel projects recently announced in Riga is extensive: At least nine new hotel projects of 100 rooms or more, a total of approximately, 1,800 new hotel rooms, have entered or are expected to enter the market over the next four years (from 2006 to 2009). This would result in an average annual increase in hotel supply of approxiamately 8% over the next 4 years. Report by Jakob Forstnig and Lasse Ristolainen for HVS International.