The Estonian company Porto Franco OU has signed an agreement with the Norwegian hotel operator Citybox on the establishment of a Citybox hotel in the first building of the Porto Franco property development in the area of the passenger port of Tallinn.
The Citybox Tallinn hotel in Porto Franco will be completed by June 2019.
“Tallinn is simultaneously a city with a long history and a city very oriented to the future. I am sure that Citybox will be an ideal match for Tallinn,” Citybox founder and Citybox AS Chairman of the Board Martin Smith-Sivertsen said in a press release.
The manager of Citybox, Eivind Hjulstad, said that the company was very glad to open the first Citybox hotel outside Norway namely in Tallinn as a launch of their strategy to open one new Citybox hotel after another in major European capitals.
“The Citybox concept fits well with the Porto Franco vision of a new heart of the city: an innovative hotel that offers comfort and simplicity while maintaining a reasonable price level,” Porto Franco OU CEO Rauno Teder said.
Citybox Tallinn Hotel with 270 rooms, including one-bed, two-bed and four-bed family rooms, will be opened on the ground floor and the 3th to 5th floors of Porto Franco I building in June 2019. The hotel that targets tourists on a city break and business travelers will have in total 8,575 square meters of leasable space.
Founded in 2006, Citybox AS opened its first hotel in Norway’s second largest city Bergen. The company’s revenue in 2017 totaled 8.36 million euros.
Porto Franco is a complex of buildings to be erected between the city center and the Admiralty inlet of the port of Tallinn for an estimated 170 million euros, which will consist of commercial and office space, space for cafes and restaurants, as well as a seaside promenade. Porto Franco is developed by Porto Franco OU.
