We advised Infortar AS on the sale of Pirita Spa Hotel

Ellex Raidla team advised AS Infortar, the core owner of the listed Estonian shipper Tallink Grupp, on the sale of Pirita Spa Hotel to Purje Vara OÜ.
 
From 16 November  the spa hotel, owned by Purje Vara OÜ, will be operated by the Estonian company BRE Hotels OÜ. The hotel has 267 guest rooms, Regatta Restaurant, a grill bar and a fitness center, as well as treatment and wellness packages available as additional services. Sales and Marketing Director of BRE Hotels OÜ Tõnu Steinberg said that the goal is to develop the hotel into a modern and innovative leisure and entertainment center.
 
Infortar is one of the largest private investment groups in Estonia with interests in shipping and transportation, hospitality, real estate, printing, trading, financial service industries and energetics. Their investments include a 38% ownership of AS Tallink Group (the leading transportation and shipping company in the northern Baltic Sea region), 67% of AS Eesti Gaas, numerous hotel and real estate investments consisting of ca 100,000 m² of different hotel and spa properties in Tallinn and Riga, Tallink Group logistics centre and headquarters, a  commercial and residential building in old town of Tallinn (Vana Posti 7) etc.
 
The deal was advised by Partner Martin Käerdi and Lawyer Karin Tartu.