Newly established hotel brand cites increased demand in Riga hotel market, long-term potential and growth perspectives, although some industry experts warn of competition and roadblocks.
Riga, Latvia: Wellton Hotel Group, which currently operates 5 mid-market hotel properties, is setting up a 2 complexes that will house hotels with full-service spa centers and restaurants; room capacity of those new projects exceeds 500 rooms. New developing properties are expected to become operational in 2016. This will make Wellton Hotel Group one of the fastest growing hotel operating companies in Riga.
Travelers who are keen on Latvia holidays and look to incorporate quality and affordable accommodation options in their vacation packages are likely to have more alternatives made available to them by Riga-based hospitality group, Wellton. The group has plans in place to set up 5 properties in Latvia in the next 5 years and to overtake operating of existing properties, offering multiple choices to all sorts of vacationers seeking packages for Latvia holidays. The company also is seeking its way to provide hotel operating services outside Latvia – expanding the brand to European and Russian hotel markets.
Wellton Hotel Group is mid-market brand that aims to target the casual travelers, who seek comfort and good value on their holidays to Latvia. On the other hand, Wellton hotels are also likely to appeal to budget vacationers who plan holidays and include lower mid-level hotel properties in their packages.
The company’s first property was launched in a distant 2000 and since that time company has operated and developed multiple properties – all under independent names. Now, when united under one brand – Wellton Hotel Group – company optimistically sees the perspectives of growth and brand expansion.
Jelena Stirna, general manager (development), Wellton Hotel Group, said, “Although the Latvian market is growing at a slower pace, we believe it can go a long way. We have to look at hoteliers who are likely to have a steady income rather than those who are interested in an instant profit gain.”