Kempinski Cathedral Square may have cost €40 million
A shake-up of the Lithuanian hotel market is due when the first Kempinski hotel in the Baltic countries opens on September 5. The luxury property has a prestigious location in front of Cathedral Square in Vilnius, in a 100-year-old former telegraph building. The five-star Kempinski Hotel Cathedral Square Vilnius was originally scheduled to open in 2009, according to Noel Attard, the general manager, but “we decided together with investors that, due to the global economic crisis and fewer airline flights to the country, it was not the best time to open.”
It is estimated that the 96-room Kempinski could have cost at least €40 million to open. A stay will cost between €160 for a standard room and €2300 for the presidential suite.
“During the first year, demand should be secured by Lithuania’s presidency in the EU”, Attard says, referring to the six-month presidency which takes place in July-December 2013. “But we mostly put our hopes in Scandinavia, Germany and Great Britain.”
Evalda Siskauskiene, president of the Lithuanian Hotel and Restaurant Association adds: “It is a sign of quality for Lithuania. Not every country has a Kempinksi hotel and here, it is housed in a historic site, a special building. Besides, the hotel will invest a lot into training and quality. It will be a true five-star hotel.”
[photo courtesy Kempinski]