Global alternative investment firm HIG Capital has acquired a landmark resort hotel in Norway via an affiliate.
Financial details were not disclosed.
The upscale waterside resort property has 170 keys and is located in Norway’s Hardangerfjord. Hotel Ullensvang is set in landscaped surroundings with views of the fjord and Folgefonna glacier.
Riccardo Dallolio, managing director and Head of HIG Europe Realty in London, commented: 'Hotel Ullensvang is an excellent addition to our existing portfolio of domestically-led wellness resorts located in core European markets.
'We believe this sector, in selected locations, will benefit from the resilience of local demand as well as tailwinds in staycation, wellness and sustainable travel.'
Baptiste Boye-Møller, director at HIG Europe Realty, added: 'This transaction not only underlines our commitment to the Scandinavian market, which is a key jurisdiction for our European strategy, but also demonstrates our ability to source high-quality assets which can benefit from HIG’s value-add expertise.'
HIG's real estate funds invest in value-added properties, which can benefit from improved asset management practices.
