Norgani has agreed with Akershaven AS to acquire the property Clarion Collection Hotel Bastion, Oslo, in Norway for NOK 128 million (approx. €15 mln). The property consists of 99 rooms, conference and restaurant facilities and is leased to Choice Scandinavia to 2015. This is Norgani's third hotel in Oslo.
"This property is well located in Oslo, in good condition and operated by a good operator," says Eva Eriksson, CEO of Norgani. "The favorable location will improve further during the coming years with the opening of the Opera and the coming development of the neighborhood. The property will strengthen our position in the Oslo hotel market, which we believe is a hotel market with strong growth. We also believe that this part of Oslo will outperform the rest of the Oslo market."