The developer Wisher Enterprise has started the reconstruction of the hotel Ibis Riga Center on Marijas street 5, Riga. The construction work is planned to be completed in the summer of 2016.

“Initially we created our strategy for the construction of 4- and 5-star hotels,” said Alexey Abasov (Abasov Oleksii). “With the opening of the 3-star Ibis Riga Center hotel in Riga, we want to meet the needs of every customer, thus sealing all the niches and presenting 3 hotels of the international AccorHotels chain ranging from 3 to 5 stars.”

In May 2014, the Wisher Enterprise investors already opened Mercure Riga Center Hotel in Riga, Elizabetes street 101. Also in cooperation with Accor, the Wisher Enterprise investors plan to open a 5-star hotel Pullman, as reported by Alexey Abasov at the 2014 conference on international investment in real estate in Latvia.

“In Latvia, we invest our resources, that we have managed to earn with our other projects located in Ukraine, Poland and Georgia,” said Alexey Abasov. “It is possible that in Latvia we will cooperate with the local banks and we will attract their financing for our other projects. We plan that the hotel projects realised in Latvia will break even in about nine to ten years.”

Accor (from 2015 – AccorHotels) is a French operator of hotel and restaurant chains operating in 92 countries all around the world. AccorHotels employs over 180,000 people worldwide The most well-known AccorHotels brands are Ibis, Ibis Style, Ibis Budget. The middle class of hotels is represented by Mercure and Novotel brands. The hotels of the highest class – Pullman, Grand Mercure, Mama Shelter, and others. Accor Hotels is also working with the luxury class hotels Sofitel. In 2014, the turnover of AccorHotels amounted to 5,45 billion euros, and income – 223 million euros.