About us
Built by operators, made for owners.
Duco Hotels was founded to give hotel owners an alternative to traditional international operators. We combine deep local market knowledge, experience working with international hotel brands and practical operating capability to grow both a hotel's commercial performance and the asset's long-term value.
Our story
An experienced team, local knowledge.
Duco Hotels OÜ was founded in 2023 by a team that opened ibis Tallinn Center in 2019 and has operated hotels in Tallinn ever since — experienced hospitality and real estate professionals in the Estonian market.
Today Duco Hotels manages 437 rooms across three internationally branded hotels in Tallinn, with an active pipeline of development and management opportunities across the Baltics. We are small enough to make decisions fast and experienced enough to make them well.
Operating principles
Four things we never compromise on.
01
We align our fees with your returns.
A meaningful part of our management fee structure is performance-based, payable only when GOP targets are met. We don't charge a hotel at 40% occupancy the same fee as one at 80%.
02
We guarantee full transparency.
A monthly profit and loss statement, RevPAR index, competitive set comparison and forward bookings — delivered to owners on the same date every month, without being asked. If results look troubling, we tell you before you find out yourself.
03
We make decisions fast.
No regional approval layers, global procurement committees or six-week response cycles. The person responsible for your hotel is reachable and empowered to act.
04
We compete on results, not relationships.
Our agreements include a clear performance clause: if results persistently fall below agreed levels, the owner has the right to terminate. If a competitor could deliver better results at your hotel, you should seriously consider them — and we will flag that to you before you reach that conclusion yourself.
Team
The team behind the results.
Madis Laid
Chairman of the Board & CEO
20+ years of hotel operations leadership in the Baltics and internationally — starting in several leading Tallinn hotels and continuing with brands such as Swissôtel and Fairmont, including leadership roles in Southeast Asia and the Caucasus. Chairman of the Estonian Hotel and Restaurant Association.
Marko Dobrus
Board Member · Commercial
20+ years of hotel commercial strategy leadership in the Middle East, the Caucasus, Central Asia and the Indian Ocean region, including senior roles in luxury and upper-upscale hotels and commercial ownership of a major international sporting event. Began his management career at Swissôtel in Tallinn and has worked with brands including Kempinski and Mandarin Oriental. Board member of the Estonian Convention Bureau.
Nele Laar
Chief Financial Officer
~20 years of financial leadership across real estate, pharmaceuticals, food service and media, with international corporate experience. Known for analytical precision, disciplined cost control and transparent, on-time owner reporting.
Kairi Normak
Head of People & Culture
15+ years in hospitality, primarily in Estonia and with experience from the United Kingdom, covering hotel operations, restaurant management and the opening of major tourism attractions — including the launch and opening of a Michelin-starred restaurant.
Madis Mägi
Partner & Co-founder
20+ years of real estate development in Estonia, with 1,600+ residential and commercial units completed. Estonia's best construction company 2020, internationally recognised by KPMG.
Janno Parik
Partner & Co-founder
20+ years of real estate development and investment in Estonia across residential, commercial and mixed-use projects. Estonia's best construction company 2020, recognised by KPMG.
Join our network.
We are building a network of owners, developers and capital partners across the Baltics. If you work in hotel real estate and want to understand what Duco Hotels can offer, get in touch directly → madis.laid@duco.ee