4 december, 2017

Nordic cross-border hotel deal  

Pangea adviser to Strawberry Properties in the sale of five hotels to Midstar.

At end of last week, it was announced that Strawberry Properties sells a large Nordic hotel portfolio to Midstar Hotels. The portfolio includes one hotel property in Sweden and four in Norway with 782 rooms in total:

  • Quality Hotel 11 in Gothenburg, Sweden (259 rooms)
  • Clarion Hotel Ernst in Kristiansand, Norway (199 rooms)
  • Clarion Collection Hotel Tollboden in Drammen, Norway (127 rooms)
  • Clarion Collection Hotel With in Tromsø, Norway (76 rooms)
  • Clarion Collection Hotel Aurora in Tromsø, Norway (121 rooms)

The largest hotel in the portfolio is Quality Hotel 11 in Gothenburg located just by the water at Norra Älvstranden. The hotel also includes neighbouring Eriksbergshallen with capacity to host 2,000 conference guests. The Norwegian portfolio includes four well-established hotels in three strong regional cities. The entire portfolio has a lettable area of approximately 60,000 sqm and all hotels are operated by Nordic Choice.

Pangea Property Partners was sell-side adviser to Strawberry Properties in the transaction, being the third largest hotel deal in the Nordics this year. Our hotel team also advised on the largest hotel deal in January when Strawberry Fields/Nordic Choice entered a long-term partnership and established two major hotels at Copenhagen Airport.

Till nyhetsarkiv