The historic five-star hotel Radisson Collection Astorija, located in Vilnius Old Town, has completed the final stage of its €6.5 million renovation project by upgrading its SPA and fitness facilities. More than €430,000 was invested in this phase alone.

Hotel representatives say they are seeing growing demand for high-quality leisure and wellness services.

“In recent years, we have observed changing guest expectations – not only is the quality of accommodation becoming increasingly important, but also the opportunity to step away from the intensity of city life. The SPA renovation was designed to provide a calmer, more personalized relaxation experience,” says Indrė Ragelevičienė, General Manager of Radisson Collection Astorija.

According to her, the hotel is being developed not only for visitors to Vilnius but also with the aim of becoming a favorite destination for local residents seeking relaxation, meetings, and quality leisure time. The new SPA center will be accessible not only to hotel guests but also to city residents.

Ragelevičienė notes that the new space, designed by architects Indrė Sangus and Greta Valikonė of Yes.design.architecture, follows the “slow wellness” concept, emphasizing mindful relaxation, a sense of privacy, and a slower pace of life.

The renovation included upgrades to the swimming pool, relaxation areas, fitness facilities, saunas, and changing rooms. Natural materials and minimalist design solutions were used throughout the interior, with a salt wall serving as one of the key design features.

During previous renovation phases, the hotel had already refurbished its guest rooms, restaurant, bar, and conference facilities. The SPA renovation marks the completion of the overall renovation project.

The renovation was financed by IAM Astoria Hotel Sub-Fund, a sub-fund of the IAM Luxury Hotels fund managed by 1 Asset Management.

“Radisson Collection Astorija is an exceptional hotel classified as a trophy asset. The value of such properties is determined not only by their financial performance but also by their historical significance, location, and long-term attractiveness in the market. The renovation program, which exceeded €6.5 million in investments, enabled the systematic modernization of all key hotel facilities – from guest rooms and the restaurant to conference halls and the SPA. Trophy assets tend to retain their value even through changing market cycles, making investments in them a source of long-term value creation for both the hotel and its investors,” says Alius Jakubėlis, CEO of 1 Asset Management.

1 Asset Management has been investing in the hospitality sector since 2017, pursuing several distinct strategies ranging from airport hotels to trophy assets, namely historic hotels in prime locations. The company recently successfully completed the sale of two hotels located near the international airports of Vilnius and Kraków. It is also currently developing its latest project – the reconstruction of a historic building into a five-star hotel in the center of Rome. According to company representatives, this experience enables the firm to consistently create value through the development, management, and realization of hotel projects across various European markets.