Last year, the Reval Hotel Latvija worked with a LVL 25.88 million (EUR 27 million) profit, according to Zelda Eglite, the company’s financial manager. As the construction of the extension at the hotel was completed, two group’s subsidiaries Latvija and the hotel development wing Viesnicu attistibas agentura have merged and the joint venture and its properties have been assessed once more. The net profit of the company is only LVL 1.5 million, 37 percent less than the previous year, but more than LVL 24 million has been put forward by the value of the joint venture. The group plans to liquidate the company RI-OS, which previously held both the Latvija and the Viesnicu attistibas agentura stocks.

 

Dienas Bizness, 2008-06-27