Promenade Hotel profits increase 2.1 times — owner promises not to buy Metalurgs with the new money

While Riga hotel owners are still looking for ways to increase profits without selling their kidneys, Liepāja's "Promenade Hotel" owner Ivars Kesenfelds has already revealed the business secret — if you want twice the profit, simply earn twice as much. Revolutionary thinking, right?

The hotel, which operated with a 2.54 million euro turnover and 144,906 euro profit in 2024, has decided to expand with 12 new rooms. The plan is as simple as a Liepāja resident's morning routine — build rooms, wait for guests, make money. Completion is planned for May 2026, which is about as precise as "Liepājas Metalurgs" game result predictions.

Local expert Juris from Grobiņas Street commented: "Well, if he doubles his profit with 12 rooms, then with 24 rooms he could even buy back 'Metalurgs.' But then there'd be no time to watch hockey games, and what's the point of such wealth?"

The hotel management's report states that the expansion will create prerequisites for revenue growth, which is about as surprising a conclusion as the fact that wind blows in Liepāja in winter. But at least Kesenfelds isn't wasting time — while others are still thinking about more efficient resource utilization, he's already building.