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Monthly Archive for: ‘June, 2011’

 

Lithuanian partner

In June 2011, the Nordic and Baltic Property Group acquired a joint venture with a Lithuanian partner, UAB JTC, which is owned by Jonas Tamulis, with operations and real estate of the Neringa Hotel and Neringa Restaurant in Vilnius, Lithuania.

The property is a classic historical 60-room hotel located on the main avenue of the city of Vilnius – Gedimino Avenue – in close proximity to the key business centres and tourist locations of the Old Town.

The joint venture partners are taking a long-term view of the development of the hotel and catering operations of the Neringa Hotel & Restaurant. Focus lies on providing accommodation to business travellers and tourists from both Western Europe and Scandinavia as well as from Eastern block countries, primarily from neighbouring West Russia and Belorussia.