Best Hotels Companies in Estonia
The 57 best Hotels companies in Estonia in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Hotel Telegraaf.
Estonia's Hotels sector sits at an interesting extreme: 57 companies tracked, total disclosed funding of $543,021, with virtually all of it concentrated in a single name. Hotel Telegraaf accounts for the entire $543,021 pool. Every other company on this list, including Tervis Spaa Grupp, Estonia Spa Hotels, and LaSpa, shows zero disclosed equity. So when you're scanning this directory for funding momentum, the signal is thin but the story is real. The global hotels market was valued at roughly $652.4B in 2022 and is projected to reach $1.0T by 2030 at an 8.1% CAGR, driven by leisure travel and post-pandemic recovery. Estonia's slice of that is modest in capital terms, but the underlying demand picture tracks the broader trend.
What I find worth watching is the mobile side. Median install growth across hotels and leisure apps is running at roughly +25% YoY, which suggests consumer engagement is outpacing the funding numbers here. London occupancy is already feeling pressure from geopolitical disruption, a reminder that macro headwinds hit thin-funded markets harder. Coverage in Estonia's hotel segment is flat, with no unicorns and European Union funding listed as the primary institutional backer. The directory ranks these companies by disclosed equity and recent funding momentum, giving you a clean starting point for due diligence.
- ResearchAndMarkets.com
Ranked: Best Hotels companies in Estonia
| # | Company | Revenue | Disclosed funding | Net margin | Employees | Tech stack | Web popularity | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Estonia Spa Hotels Operator of hotels chains | $12M FY2023 | — | — | 222 | WordPressMySQLPHP+13 | Top 1M | — |
| 2 | Tervis Spaa Grupp Operator of hotels | $8M FY2023 | — | — | 218 | WordPress Block EditorWordPressMySQL+18 | Top 5M | — |
| 3 | Tervis Spaa Grupp Tervis Spaa Grupp | $7M FY2023 | — | +8% | 162 | WordPressMySQLPHP+11 | Top 50M | — |
| 4 | LaSpa Laulasmaa spa hotel LaSpa I Wellbeing by nature I Official website | $7M FY2023 | — | -5% | 154 | WordPress Block EditorWordPressMySQL+22 | Top 5M | — |
| 5 | Hotel Telegraaf Operator of luxury hotels | $7M FY2022 | $543K | — | 92 | WordPressMySQLPHP+19 | Top 5M | — |
| 6 | Hedon SPA Operator of boutique spa hotels | $6M FY2023 | — | — | 144 | WordPressMySQLPHP+14 | Top 5M | — |
| 7 | Noorus Operator of hotel | $6M FY2022 | — | — | 176 | — | — | — |
| 8 | Lydia | $4M FY2023 | — | +15% | 84 | WordPressMySQLPHP+33 | Top 5M | — |
| 9 | Lossispaa Wagenkull Lossispaa Wagenküll I Spaa Lõuna-Eestis | $3M FY2022 | — | +1% | 53 | WordPress Block EditorWordPressMySQL+24 | Top 1M | — |
| 10 | Schlossle Hotels Schlössle Hotels | Luxurious hotels in Tallinn and Riga | $2M FY2023 | — | — | 44 | — | — | 1 award |
| 11 | Asa Spa Hotel Provider of hotel booking services | $2M FY2022 | — | — | 71 | WordPress Block EditorWordPressMySQL+18 | Top 5M | — |
| 12 | Dreamstay Online platform for booking vacation rentals | $1M FY2022 | — | — | 15 | WordPressMySQLPHP+28 | Top 10M | — |
| 13 | Narva Hotell Operator of hotels | $1M FY2023 | — | +12% | 29 | WordPressMySQLPHP+20 | Top 10M | — |
| 14 | Spalavendel | $813K FY2022 | — | +0% | 12 | — | — | — |
| 15 | Hektor Stay Hektor Stay - nutikas majutuse kogemus Eestis | Tallinn | Tartu | $667K FY2022 | — | — | 14 | WordPressMySQLPHP+26 | Top 10M | — |
| 16 | GOSPA Georg Ots Spa hotell | Spaa hotell Saaremaal | $630K FY2023 | — | +9% | 39 | Amazon Web ServicesReactApache HTTP Server+11 | Top 5M | — |
| 17 | Maidla Nature Resort Maidla Nature Resort | $461K FY2023 | — | -35% | 15 | Cart FunctionalitySquarespace CommerceSquarespace+21 | Top 5M | — |
| 18 | Ojako Ojako | Puhke- ja koolituskeskus Pärnumaal | $453K FY2023 | — | +24% | 23 | WordPressMySQLPHP+14 | Top 10M | — |
| 19 | Hotell Tammsaare Hotell Tammsaare | $446K FY2023 | — | +12% | 9 | WordPressBetterDocsMySQL+19 | Top 10M | — |
| 20 | Ehehostel | $416K FY2023 | — | +16% | 8 | — | — | — |
| 21 | Hilltoptallinn Operator of hotels | $373K FY2023 | — | — | 6 | — | — | — |
| 22 | Centrum | $368K FY2023 | — | +8% | 9 | WordPressMySQLPHP+27 | Top 10M | — |
| 23 | Taevaskoja Operator of hotel | $361K FY2023 | — | — | 29 | WordPressMySQLPHP+16 | Top 10M | — |
| 24 | Alex | $354K FY2023 | — | +11% | 11 | — | — | — |
| 25 | Tallinn Apartment Hotel Tallinn Apartment Hotel – Apartments in Tallinn city centre | $328K FY2022 | — | +39% | 7 | — | — | — |
| 26 | Adila Adila heaolu- ja puhkekeskus on ideaalne paik ürituste korraldamiseks | $301K FY2023 | — | -19% | 4 | — | — | — |
| 27 | Klaara Klaara-Manni Puhke- ja Seminarikeskus | $290K FY2022 | — | +31% | 9 | WordPress Block EditorWordPressMySQL+28 | Top 10M | — |
| 28 | Hindreku Turismitalu Operator of hotels | $287K FY2023 | — | — | 8 | WordPressMySQLPHP+20 | Top 10M | — |
| 29 | Ravila Mõis Operator of standard hotel | $264K FY2023 | — | +15% | 6 | — | — | — |
| 30 | Altmoisa | $253K FY2023 | — | +3% | 12 | NginxjQueryModernizr+4 | Top 50M | — |
Top 5 Hotels companies in Estonia
#1
Funding Raised · Tallinn, Harju County · founded 2007 · 92 employees$543Kraised▾
Hotel Telegraaf is a 5-star luxury hotel situated in the heart of Tallinn's Old Town, Estonia. The hotel offers 86 elegant rooms and suites, as well as a range of amenities including an Elemis Spa, pool, and fitness center. Its prime location provides guests with easy access to the city's main attractions and cultural events.
- Sep 2021Grant (prize money)$211K
- Aug 2021Grant (prize money)$14.5K
- Jun 2021Grant (prize money)$196.2K
- Mar 2021Grant (prize money)$121.1K
#2
Funding Raised · Parnu, Parnu County · founded 1996 · 218 employees—raised▾
Operator of hotels
#3
Funding Raised · Parnu, Parnu County · founded 1947 · 222 employees—raised▾
Operator of hotels chains
#4
Funding Raised · Estonia · founded 2004 · 154 employees—raised▾
Manufacturer and supplier of sanitary products based in Laagri, Estonia. The company offers a range of products for the bathroom, including baths, basins, steam rooms, shower cabins, massage rooms, massage panels, energy cocoons, and other bathroom fixtures.
#5
Funding Raised · Estonia · 162 employees—raised▾
Tervis Spaa Grupp
Funding & investor landscape
Market landscape — 10 sub-themes by coverage
Share of Hotels coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising