“Park Inn by Radisson” Vilnius Airport Hotel & Business Center
“Nordic Airport Hotels Fund”, a developer of the hotel project, has signed a construction agreement with “Conresta”, one of the largest construction companies in Lithuania. Construction work on the hotel began in 2018 and is set to be finished by the fourth quarter of 2020.
"Nordic Airport Hotels Fund"
10 M. €
2019 01 - 2020 02
The contract is signed with the hotel developer “Nordic Airport Hotels Fund,” managed by a lawyer and investor Marius Jakulis Jason and distributed by financial group “Orion Securities.”
The “Park Inn by Radisson” Vilnius Airport hotel & business center is expected to open its doors by the end of the first quarter of 2020. It will be the sixth “Radisson Hotel Group” hotel in Lithuania and the fourth in Vilnius. David Jenkins, Group Vice President of Business Development for Russia and CIS, said that “Park Inn by Radisson” is not only the group’s leading brand in the mid-range segment, but it’s also developing at a really high rate in Europe.
According to the Department of Statistics, in 2018 Vilnius city accommodation establishments had 1,200,858 guests, who spent 2,212,109 nights here. Compared to the same period in 2017, the number of travelers increased by 12.15% and the number of nights spent increased by 11.20%.
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The area around Vilnius Airport is a fast-developing commercial zone, and Vilnius itself has been ranked one of Europe’s most promising cities for growing businesses that focus on innovation, technology and entrepreneurship. Demand has been increasing in the city year on yearElie Younes, Executive Vice President & Chief Development Officer of Rezidor Hotel Group