Law firm ESTEEM announces it has advised 1 Asset Management and its managed fund, IAM Luxury Hotels Fund, on the proposed sale of the Grand Hotel Vilnius, Curio Collection by Hilton. The company operating the property is to be acquired by an entity linked to Tesonet Global, UAB. The firm highlights the rarity of transactions involving iconic, prime-location assets in the Lithuanian market.
The ESTEEM team represented the seller throughout the transaction, advising on the deal structure, preparing and negotiating the contractual documentation, and providing legal support across the entire sale process. The transaction remains, at this stage, pending clearance from the Lithuanian Competition Council.
Located in the immediate vicinity of Cathedral Square, in the heart of Vilnius, this five-star property marked, in 2024, the arrival of the first Curio Collection by Hilton address in the Baltic States, having previously operated under the Kempinski brand. The property is currently undergoing a major renovation.
At a Glance
Grand Hotel Vilnius, Curio Collection by Hilton — Transaction – Seller: 1 Asset Management, on behalf of IAM Luxury Hotels Fund – Buyer: entity associated with Tesonet Global, UAB – Legal advisor to seller: ESTEEM – Status: pending clearance from the Lithuanian Competition Council – Asset: 5-star hotel next to Cathedral Square, Vilnius; first Curio Collection by Hilton in the Baltic States (since 2024); formerly operated under the Kempinski brand – Context: currently undergoing a major renovation
