Large Finnish construction projects underway around Tallinn landmark Viru Hotel
Published:
23 November 2003 y., Sunday
The Viru Hotel, the landmark of Estonian capital Tallinn, is currently undergoing extensive renovations. Its new conference centre and restaurant were opened in October. The façade of the hotel will be rebuilt, and a large shopping complex is under construction next door.
The hotel, which was built by a Finnish construction company during the Soviet period, officially joined the Sokos hotel chain in September. It was acquired in June by SOK, which runs supermarkets, hotels, and restaurants in Finland. The shopping centre is being built by Pontos, the local subsidiary of Finnish construction company SRV.
The Estonian tax system favours construction: if profits are invested back in a company's operations, no corporate taxes need to be paid on the profits.
According to the new director of the Viru Hotel, Markku Tarnanen, some 70 stores will be opened in the new mall. The hotel itself will get 90 new rooms on top of the existing 400. The need for conference services is expected to grow in Estonia after the country joins the EU in May 2004. Viru will attempt to shift its focus to business travellers in the near future. At present, some 65 percent of the guests at the hotel are tourists. Finns account for 80 percent of all Viru Hotel guests.
Šaltinis:
helsinki-hs.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »