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's activity report 2022

The OÜ Fortuna Travel's Hilton Tallinn Park hotel opened its doors on June 1, 2016. The hotel offers 202 rooms, of which 27 are suites, and conference and event rooms that can accommodate up to 800 people. In addition, the hotel also has two dining places. The main restaurant „The Able Butcher“ offers a wide selection of meat dishes, with beef being the top choice, and the lobby bar is a typical all-day lounge-type bar. Both hotel guests and other visitors are welcome to the cafe and restaurant. The hotel's spa and wellness center with a terrace is a true Hilton Eforea Spa, featuring a 15 m heated indoor pool, hot tub, sauna, steam room, and relaxation area. Guests can also enjoy various massage and beauty treatments. The hotel also houses a casino, which, however, does not belong to OÜ Fortuna Travel.

2022 review and the impact of Covid-19 In late 2019, news about Covid-19 (coronavirus) first emerged from China. By the end of 2019, a limited number of cases of an unknown virus had been reported to the World

Health Organization. Within the first few months of 2020, the virus had spread globally, qualifying as a pandemic, and was therefore treated as a non-adjusting post-balance sheet event in the 2019 financial year report.

As described below, Covid-19 had a significant impact on the results of 2020 and 2021. 2022 was the hotel's sixth full accommodation year. The Covid-19 pandemic and the associated domestic and international restrictions left a strong mark on the company's operations and results in 2020-2021. The management focused on cost and liquidity management during the Covid-19 outbreak, reaching agreements with both suppliers and the landlord. In 2022, despite the decline in demand, most of the nights spent in the hotel were still related to leisure and business trips, indicating the same business segment as the hotel had in previous years. Most of the guests staying at the hotel were

citizens of Finland and Estonia.

In the field of talent development, the management continued to focus on retaining team members through development and promotion, while external recruitment is limited to business needs. The main emphasis remains on the continued increase of team member engagement and efforts to attract young people as future talents. The hotel continues to be active in the local community, collaborating with local members, such as

Tallinn Service School, Food Bank, My Dream Day, actively supporting their message. In addition, the hotel always strives to improve its environmental performance in terms of energy efficiency and waste reduction, while using local suppliers, provided it is reasonable and possible.

The rooms are equipped with energy-saving lamps and smart motion sensors that monitor changes in lighting and air conditioning.

Recycling and reuse initiatives help reduce the amount of waste directed to landfills.

Electricity and water consumption are regularly measured and analyzed.

The development of the hotel business is influenced by the pace of economic growth in the country, consumer incomes and solvency, the situation in the financial sector, the price increase of key commodities and materials /fuel, electricity/, unemployment, cost increase and decrease in company profitability. Marketing structures are looking for the best opportunities for activities, trying to maintain a high level of services offered while reducing costs at the same time.

To reduce currency, credit and liquidity risk, continuous monitoring of receivables and credit obligations is carried out.

To minimize the risk arising from exchange rates, almost all transactions are in euros.

As of December 31, 2022, the company's working capital was negative in the amount of 428,744 EUR. The company's management assesses the resulting liquidity risk as low, as the negative working capital is partly due to a short-term loan obligation received from an entrepreneur belonging to the same consolidation group, which is extended if necessary.

Military conflict in Europe

The ongoing military operation in Ukraine and the related sanctions against the Russian Federation affected the European economy and the world economy in 2022. Due to the general economic situation, it was necessary to make adjustments by changing certain assumptions and estimates, which affected the results of the reporting period. There was also a negative impact on input prices, particularly in relation to the increase in fuel and raw material prices. The management is continuously monitoring the situation and responding as needed.