Tallinn, Estonia, 2013-07-18 12:05 CEST (GLOBE NEWSWIRE) --
On 18 July 2013, a contract was signed by AS Merko Ehitus Eesti – part of the AS Merko Ehitus group – and Kesklinna Hotelli OÜ – part of the AS Olympic Entertainment Group for construction of the hotel and entertainment complex located at Gonsiori 20 / F. R. Kreutzwaldi 23, Tallinn. The hotel will be operated by the international hotel chain Hilton Worldwide.
Under the contract, AS Merko Ehitus Eesti will build a 13-storey hotel and entertainment complex. Hotel vestibule, casino, conference center, SPA and a restaurant will be located in the lower 4-storey part of the building; accommodation floors with 202 hotel rooms will be located in the higher 9-storey part of the building together with executive lounge on the top floor. The complex will have an underground parking lot and if possible, a helicopter landing pad will be built on the roof. The gross area of the complex is approximately 26,500 m², including approximately 3,100 m² underground. According to the contract, AS Merko Ehitus Eesti will also manage the design process and lead as a main contractor the decorating and furnishing of the building.
The contract value is approximately EUR 31 million, plus value added tax. Demolition of today´s Park Hotel & Casino starts in October 2013 and construction of the new complex starts in February 2013. The works are scheduled for completion in December 2015.
AS Merko Ehitus (www.merko.ee) comprises the leading Estonian construction company AS Merko Ehitus Eesti, the Latvian market based SIA Merks and the Lithuanian market based UAB Merko Statyba as well as the group’s real estate development business unit together with companies holding real estate properties. As at the end of 2012, the group employed 915 people and the 2012 revenue amounted to EUR 249.1 million.
Additional information: AS Merko Ehitus Eesti, Director of General Construction Division Tarmo Pohlak, phone +372 6805 105.
Merit Välba
Communications and Marketing Manager
AS Merko Ehitus
Phone: +372 6501 250
E-mail: merit.valba@merko.ee
