Latvian entrepreneur Harolds Bikovskis has bought two hotels for EUR 3.43 million – ProfitCamp (now Riga Student Hostel) for EUR 2.2 million and the Hotel Enkurs for EUR 1.23 million. Both were bought together with signed agreements on continuing to provide accommodation to tourists. The 3-star Riga Student Hostel has 150 rooms and is located in Old Riga. The Enkurs is a small hotel with 17 double rooms situated on Caka Street. Bikovskis plans to buy several other buildings on Caka and merge them into the “Riga Royal Hotel”. According to Santa Graikste of the Latvian Hotel and Restaurant Association, the city’s hotel sector is no longer growing fast but is lucrative in the long term.

 

Dienas Bizness, 2009-01-14