Tesonet-linked firm buys five-star Grand Hotel Vilnius
What's the deal? Spectra B.V., a Netherlands-registered holding company affiliated with Tesonet GlobalDealroom has a profile for this one. Try Dealroom →, has acquired all shares in Grand Hotel Vilnius, according to Verslo žinios. The transaction closed on September 17, and its value was not disclosed.
The details: The five-star, 93-room hotel operates under the Curio Collection by Hilton brand. Its buildings and land were valued at €20.5 million at the end of 2025, with total company assets of €23.68 million.
Who's selling? The property had been owned since 2024 by a sub-fund of IAM Luxury Hotels Fund, managed by investment firm I Asset Management.
What changes? Little, for now. The new owners plan to keep operator Apex Alliance and the Hilton Curio Collection brand in place.
What's next? The group first intends to finish the ongoing room renovation before refurbishing common areas. Combined investment by the former and new owners will total around €20 million, of which nearly €8 million of work has been completed.
The signal: Tesonet, best known as the Lithuanian tech group behind Nord Security, is extending its footprint into hospitality on home turf. The move points to a broadening of interests for one of the Baltics' most prominent tech backers beyond software.
Read more: europesays.com
Image credit: PortoBay Trade
