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L&RP acquires 32 Finnish hotels
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London & Regional Properties (LRP) has entered the Scandinavian hospitality market and acquired the Finnish hotel owner, Dividum, for an undisclosed sum.
L&RP used its Scandinavian arm, LR Swedish Properties, as a vehicle for the deal, which will see L&RP take over ownership of 32 hotels throughout Finland, including the Ramada Airport and Hesperia hotels in Helsinki.
In total, the 32 hotels have 5,600 rooms, 328,000sq m of floor space and a combined turnover of around E300m (£204m).
Thomas Lindeborg, chief executive of LR Swedish Properties, said: “This is our largest investment outside the UK since we acquired three Swedish property businesses in 2002.
“The acquisition of Dividum is in line with our strategy of gaining a foothold from which we can expand our Scandinavian hotel operations.”
Tomi Bergman, chief executive of Dividum, said: “This deal will enable us to strengthen our position as the leading owner of hotel properties in Finland, as well as joining one of the largest property portfolios in Europe.”
London & Regional Properties (LRP) has entered the Scandinavian hospitality market and acquired the Finnish hotel owner, Dividum, for an undisclosed sum.
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