Accor, the French hotel chain, is showing an interest in Estonia, with plans for a location in the heart of downtown Tallinn.
A member of the board of Palmgrupp OÜ, an Estonian real estate development company, says they have signed an agreement with Accor for managing two hotels, Postimees wrote.
The board member Janno Rokk, divulged no further information on the timetable, saying: "We are prepared to develop it when they come and they will come when the funding is in place."
The development would take place on lots owned by OÜ Palmgrupp at Hobujaama 12 and 14a, the interchange where two sets of tram tracks meet and where a new shopping center recently opened.
Accor, which operates 3,555 hotels in 92 countries, would bring its Adagio and Ibis trademarks to Estonia.