On September 25th 2008 a construction contract between SIA Merks and SIA Happy Trails was enforced and as a result a hotel with 250 rooms and conference centre will be built in Riga. Price of the contract is EUR 23 million (VAT excluded) and the hotel shall be completed by March, 2010. 1 EUR = 15,647 EEK Marko Pern Financist +372 6 805 130 marko.pern@merko.ee