Sildmäe may become next operator of Hotel Palace

20.02.2013, 11:14

Estonian businessman Toomas Sildmäe does not rule out that he may become the next operator of Hotel Palace now that Scandic sold it to Estonian real estate fund along with the operating contract, writes Äripäev.

Sildmäe who owns Rannahotell in Pärnu told Äripäev that he parted ways with Scandic at the end of 2012 because of a dispute over who should invest and how much in the hotel.

Sildmäe said that these were difficult times for Scandic in Estonia and the company was not interested in investing in the development of Rannahotell which needs renovation.

Sildmäe says that repairs in Rannahotell have already started and will be full refurbished by autumn 2014.

„Some minor works and paintwork will be done in the next few months and we will re-open doors on April 1,” he said.

Sildmäe who took over operating Rannahotell in Pärnu in January did not wish to speculate whether he could become the new operator also for Hotel Palace.

„Everything is possible. Life will show, but I would not speculate at the moment. We’ll go step by step, starting with Pärnu,” he added.

Sildmäe said that there were many young people like him twenty years ago when he took over management of Finest Hotel Group that operated Palace Hotel in 1990s.

Speaking of Palace, Sildmäe said that although Palace was different from Rannahotell, it had its own niche. “Both hotels are my children,” he said.