Petter Stordalen and his Nordic Choice Hotels have purchased Finnish Kämp Collection Hotels for more than 1 billion NOK.
“The acquisition of Kämp Collection Hotels is a milestone for both the company and myself and is one of the most important deals I have made in the hotel industry,” says Stordalen in a press release.
The Finnish hotel group includes KAMP Hotel in Helsinki, one of Finland’s most famous and venerable hotels. It was opened by Carl Kämp in 1887 under the name the Grand Hotel.
Proud and humble
“We are both proud and humbled to continue to operate Kämp Hotels and want to preserve the great traditions that the brands represent,” says Stordalen.
Laura Tarkka, CEO of Kämp Collection Hotels, is convinced that Nordic Choice Hotels is an “excellent match” for the chain.
“Stordalen and Nordic Choice Hotels have shown an impressive ability to build strong independent brands such as At Six in Stockholm and The Thief in Oslo,” says Tarkka.
Over 1 billion
The acquisition was announced during a press conference in the Finnish capital on Wednesday, TV 2 reports.
According to Dagens Næringsliv, the seller of the Finnish luxury and lifestyle chain Kämp Collection Hotels is the private equity fund CapMan. The price was over NOK 1 billion, the newspaper writes.
The acquisition of Kämp Collection Hotels will be approved by the competition authorities in Finland, which Nordic Choice Hotels expects will happen in the fall of 2019.
© NTB Scanpix / #Norway Today