Ellex Raidla has advised AS Infortar, the majority owner of the listed Estonian shipper Tallink Grupp, on the sale of Pirita Spa Hotel to Purje Vara OU.
Ellex reports that, from November 16, the spa hotel will be operated by the Estonian company Baltic Real Estate OU (BRE Hotels). The hotel has 267 guest rooms, the Regatta Restaurant, a grill bar, and a fitness center, as well as treatment and wellness packages available as additional services.
“We aim to turn the hotel into a modern and innovative recreation and entertainment centre, which offers memorable experiences to various age and interest groups,” explained Tonu Steinberg, Head of Sales and Marketing at BRE Hotels.
Pirita Spa Hotel was constructed in 1980 for the Olympic sailing regatta and the first guests were welcomed at the Baltic Regatta held during the Pre-Olympics that year. According to Steinberg, the building’s location, history, architectural nature, and traditions are highly valued, and it will be linked with both the Estonian history of sports and sailing. Current main services at the hotel will be preserved and developed further by adding innovative solutions and involving partners with similar goals.
Infortar is a private investment group in Estonia with interests in shipping and transportation, hospitality, real estate, printing, trading, financial service industries, and energetics.
The Ellex team consisted of Partner Martin Kaerdi and Lawyer Karin Tartu.
Ellex did not reply to our inquiries about the deal.