The purchase of the hotels are estimated in the million. The purchase of ''Elefant Hotel'' alone was LVL 4.4 million.
The new owner of the hotels is a Russian entrepreneur, however, his name has not been revealed. ''Freecity.lv'' writes that it has been rumored that the wife of Moscow's former mayor Yuri Luzhkov is involved in the hotel deal.
The news portal points out that there has been an increase in interest in Latvian hotels by Russian businessmen, who see Latvia as a stable investment environment.