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Lithuania : Advisory Services

Trakai Castle on Lake Galvé GVA RGA were commissioned to assess the potential performance of several hotels sites in and around the Vilnius, the capital of Lithuania. Given an economic climate of caution and restraint our clients saw Lithuania as a potential hot spot for economic and tourism growth.

Our clients did not have hotel experience and so needed guidance on the best use of their sites. We looked at three hotel sites each with different styles, attributes and prospects. We had to consider each one individually and recommend positioning and facilities, with financial projections, as well as considering how they may, or may not, be able to operate together.

As well as considering the suitability of the potential sites GVA RGA had to make a judgment on the economics of Lithuania and the risks involved. It is an immature free-market economy, going through a period of transition from the Soviet era and hopes to become a member of the Euro Zone. The country has performed well during the recent global economic crisis. It benefits from a well educated and, comparably cheap, labour force that are enthusiastic and outward looking. The opportunities for business and high returns are excellent but these high returns have associated risks. All things considered this was an interesting and challenging project.

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