Reval Hotels
Observer Eesti Oü

WEEK 29. 2005

Monday, 18th of July, 2005

Brits and Russians to grow the turnover of Sokos Hotel Viru
The first half-year turnover of Sokos Hotel Viru increased 10.1 percent compared to respective period in 2004. The number of British and Russian tourists grew significantly. The number of sold rooms increased 7.6 percent that raised the hotel’s occupancy rate to 66 percent. The hotel expects more growth for the autumnal conference season.

Analysts are shy with promises
Estonian economy is in its best condition, find the analysts whereby being careful in prognosticating big growth figures. According to the ministry of economics and communication, the annual economic growth remains around 7 percent. Ühispank has raised the annual prognosis to 6.4 percent. Martin Lindpere from the Bank of Estonia admits that last year’s strong economic growth has continued in the beginning of the year. Andrus Treiberg from the ministry of economics and communication claims that at present, the economy of Estonia is its best condition in history.

Record number of new cars sold in 2005
A little over 10,000 new cars were sold in the first half of the year in Estonia. This is the best sales result in history. Reigo Kuivjõgi from Saksa Auto admits that the local car market is on the rise thanks to increased incomes. Positive developments are also due to good offers for car prices and favourable financing conditions.

Wednesday, 20th of July, 2005

Profit of Standard decupled
The net profit of AS Standard, the producer of office furniture, reached EEK 21 million in 2004 which is almost ten times bigger than a year before.
Standard’s turnover for 2004 reached EEK 155.6 million, whereby the turnover in 2003 was EEK 139.7 million.

Mysterious businessmen to surprise with a profit that reaches millions
Tiit Lepp and Sulev Kodu, founders of the store chain Hinnapomm earned a profit of nearly EEK 30 million by the turnover of EEK 200 million. Besides selling wardrobe, OÜ Glasmir is also active in real estate business. Glasmir that has approximately 80 stores and 500 employees sells clothes also in stores of Metro and Cartini. Successful wardrobe chain has purchased 63 properties in Estonia.

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