CapMan Hotels Fund Partners with Lapland Hotels for Expansion in Oulu, Finland

CapMan Hotels Fund Partners with Lapland Hotels for Expansion in Oulu, Finland

(IN BRIEF) CapMan Hotels II fund has entered into an agreement to acquire “KOY Oulun Kuvernööri,” a five-story office property in Oulu city center, Finland. The plan is to transform the building into an extension of Lapland Hotels Oulu, increasing its capacity by 95 rooms to meet growing market demand. CapMan Real Estate intends to conduct an extensive renovation to convert the property into a hotel, connecting it to Lapland Hotels Oulu, resulting in a larger hotel with 250 rooms, additional restaurants, and meeting spaces. The renovation will prioritize environmental and sustainability considerations, aiming for a BREEAM In-Use Very Good certification. The project is set to commence after obtaining necessary approvals within a year.

(PRESS RELEASE) HELSINKI, 3-Nov-2023 — /EuropaWire/ — CapMan Hotels II fund has signed an agreement to acquire the asset “KOY Oulun Kuvernööri” in Oulu city centre, Finland, with the intention of redeveloping the building, currently used as an office, into part of Lapland Hotels Oulu. As a result of the conversion the hotel capacity will be increased by 95 rooms in order to meet the strong market demand.

KOY Oulun Kuvernööri is a five storied office property located in the city centre of Oulu, Finland, with a lettable area of 5,657 m2. The property is part of the same building complex as Lapland Hotels Oulu. CapMan Real Estate plans to carry out a thorough renovation where the building is transformed into a hotel and rented out on a long-term lease agreement to Lapland Hotels Oulu. As part of the renovation the adjacent buildings are connected, creating one larger hotel with 250 rooms and an increased number of restaurants and meeting rooms. Street level areas of the existing hotel will also be partially remodelled. Environmental and sustainability matters are central in the renovation. Once completed, the new asset targets environmental certificate level BREEAM In-Use Very Good.

”The Oulu hotel market is very appealing, and we are delighted to be part of further redeveloping Lapland Hotels Oulu. The planned extension will enable the hotel to increase operational efficiency and answer the strong market demand by growing an already very successful hotel concept”, comments Juhani Erke, Partner at CapMan Real Estate.

”As part of the renovation most rooms will be equipped with ensuite saunas as is central to our concept, the large courtyard will be developed for event use and meeting rooms will be expanded. In connection to this we will also renew parts of the current hotel. All this will create an even more attractive hotel than before. Our collaboration with CapMan, which started in 2017 and currently covers three of our hotels, has been very well-functioning and we are pleased to be kicking off this new redevelopment project with them as our partner”, says Ari Vuorentausta, CEO at Lapland Hotels.

The acquisition is expected to close and the redevelopment to start in one years’ time once required official authorisations have been obtained.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About Travel enterprise Lapland Hotels & Safaris

Travel enterprise Lapland Hotels & Safaris offers northern experiences for all the senses. It consists of Finland’s largest private hotel chain, Lapland Hotels, the largest experience service company in the Nordic countries, Lapland Safaris Group Oy and Lapland Ski Resorts.The Group has approximately 1,700 employees in total.

Lapland Hotels has 19 hotels, more than 2,400 rooms and apartments, as well as over 10,000 restaurant seats around Finland: In Ylläs, Levi, Saariselkä, Rovaniemi, Olos, Luosto, Kilpisjärvi, Pallas, Hetta, Helsinki, Tampere, Oulu and Kuopio.

Lapland Safaris offers unique outdoor activities in five destinations in Lapland: Rovaniemi, Ylläs, Saariselkä, Levi and Luosto.

Lapland Ski Resorts comprises five ski centres located in Ylläs, Luosto, Olos, Pallas and Rovaniemi.

www.laplandhotels.com, https://www.laplandsafaris.com/en/

Media Contact:

Juhani Erke
Partner, CapMan Real Estate
+358 50 549 5104

Ari Vuorentausta
CEO, Lapland Hotels
+358 400 419 896
ari.vuorentausta@laplandhotels.com

SOURCE: CapMan