Time for Balanced Management

‘As a leading hotel operator in the Baltics, we’re currently managing 15 hotels. The main goal of our company is not only to develop the hotels, but to handle the management of their internal processes,’ head of SIA Mogotel Jeļena Stirna pointed out. ‘We’re currently negotiating six to seven projects that may be accomplished in Central and Eastern Europe, with investors that we are quite familiar with, as well as new investors. I can say with certainty that the industry is growing steadily, and we enjoy a very healthy business environment here.’

To travellers all over the world, SIA Mogotel is known for its Rixwell, Wellton and Rija brands, whose five, four and three-star hotels are currently represented in Riga, Bauska and Tallinn. This year, the company has expanded its portfolio with Winwinstay short-term lease flats in the centre of Riga and its Old Town, making it possible for flat owners to reach a broader audience of guests of the city, and offer them short-term accommodations, instead of long-term leasing.

The hotel network is undergoing continuous expansion, and a new hotel will open in Riga as soon as February 2020. Because internal process management is one of the areas of business of SIA Mogotel, the company is planning to take over the sales and marketing functions for the Hotel Moreto apartment hotel in Bulgaria.

HOTCO is an international hotel investment conferences that every year brings together investors, real estate developers, hotel managers and other industry players from all over the world. With the hotel industry stabilising in Western Europe and USA, the focus of this year’s conference was on investment raising and development of hotels specifically in the Central European, Eastern European and Caucasus regions.

About SIA Mogotel

           Mogotel is a leading hotel operator in the Baltics, which originated in Latvia, and has more than 16 years of experience in hospitality. The network's medium and luxury-range Rixwell Hotels and Wellton Hotels, as well as the medium-budget Rija Hotels offer more than 1500 rooms, and provide jobs to 650 employees of various skills.

           Currently, Mogotel manages 15 Wellton Hotels, Rixwell Hotels and Rija Hotels brand hotels. Wellton Hotels and Rixwell Hotels offer their guests maximum comfort, impeccable service, beautiful surroundings with excellent views of the city, modern spa and relaxation facilities, as well as a large number of various business and conference rooms.

           The stable growth of Mogotel continues, with excellent hotel occupancy indicators reaching up to 90%. The company has set its sights towards expanding in Central Europe, including Lithuania, Austria, Czech Republic, Hungary, Poland and Bulgaria.

           Vadims Muhins is the sole owner of the company, who brought in the financing of local commercial banks and the reinvested profits of the company to promote its growth. In 2018, the turnover of SIA Mogotel was 21.3 million euros.