Valmeda AB

The incorporation in 1995 of Valmeda company and the construction started in 2000 of the Holliday Inn Vilnius hotel were the beginning of the hotel business operated by Invalda Group. Invalda focused its efforts on setting up a team of hotel managers and signed the franchise agreement concerning the Holiday Inn hotel with Six Continents (current name is InterContinental Hotels Group); the investment fund Baltic American Enterprise Fund (BALAEF) was attracted as an important financial investor. In 2003. Invalda Group purchased from the BALAEF a 33 % block of shares of Valmeda.

In 2004 Valmeda acquired an economy class hotel Ecotel Vilnius. Early in 2008 Valmeda's shares were sold to the hotel division of a London based company Triangle Group for EUR 19.8 million, while the enterprise value was EUR 25 million.