Cutting the ribbon, popping the cork

Ober-Haus Group achieved a miracle in taking the newest of its luxury
hotels, Hotel Grand Palace in Riga, from mid-construction in March to
a grand opening last month.

Manager Bernard Loew said that the old real estate plus, "location,
location, location," is serving the hotel well, rapidly bringing
bookings to 50 percent occupancy in a short two months.

The 58-room hospitality and business center off Riga's Old Town Dome
Square just steps from the business district features traditional
decor melded with art nouveau melded with modern, set off with
hunting themes and modern art. In a glassed winter garden restaurant,
"Orangerie," decorators ignored the call for a traditional crystal
chandelier and used green and lavender glass to pick up the green and
aubergine upholstery of the chairs and other decor in the room. Other
meeting places include the classy "Seasons" restaurant and the "Pils
Bar."

Completion came less than four months after Ober-Haus completed debt
funding from IFC for $7 million for Schlossle Hotel Group, owned 60
percent by Ober-Haus.