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Riga, Latvia: Are Too Many New Hotel Rooms Checking In?

Report by Jakob Forstnig and Lasse Ristolainen for HVS International

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.

HVS

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. Click below link for full report.

HVS International is a hospitality services firm providing industry skill and knowledge worldwide. The organization and its specialists possess a wide range of expertise and offer market feasibility studies, valuations, strategic analyses, development planning, and litigation support. Additionally, HVS International supplies unique knowledge in the areas of executive search, investment banking, environmental sustainability, timeshare consulting, food and beverage operations, interior design, gaming, technology strategies, organizational assessments, operational management, strategy development, convention facilities consulting, marketing communications, property tax appeals and investment consulting. Since 1980, HVS International has provided hospitality services to more than 10,000 hotels throughout the world. Principals and associates of the firm have authored textbooks and thousands of articles regarding all aspects of the hospitality industry. Click here for more...

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HVS
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HVS is the world's leading consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 2,000 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe.