Nordic hotel group Norgani is acquiring the Radisson SAS Hotel in Linkoping, Sweden for Skr 103.3 mln (EUR 11 mln). The property consists of a hotel with 91 rooms and conference and banqueting facilities, a restaurant and four shops.
Nordic hotel group Norgani is acquiring the Radisson SAS Hotel in Linkoping, Sweden for Skr 103.3 mln (EUR 11 mln). The property consists of a hotel with 91 rooms and conference and banqueting facilities, a restaurant and four shops.
The hotel, which is being sold by Stora Hotellet i Linköping, is currently operated under a franchise agreement under the Radisson SAS brand. Norgani has entered into a 15-year turnover based lease agreement with Rezidor Hotel Group that starts when Norgani takes over the property on 1 October. Rezidor and Norgani have agreed to jointly develop the hotel further by adding more rooms. Norgani is the fifth largest hotel operator in Europe and the Radisson SAS will be its fourth hotel in Linkoping, the fifth largest city in Sweden. Oslo-based Norwegian Properties is set to become the largest real estate company in the Nordic region when it finalises its NOK 3.3 bn (EUR 410 mln) bid for Norgani Hotels.
