Europe Hotel Transactions Bulletin - Week Ending 24 July 2020 (July 24, 2020)

NREP acquires Clarion Hotel Amaranten in Stockholm 

Nordic real estate investor NREP has acquired the 461-room Clarion Hotel Amaranten hotel in Stockholm, Sweden, from a group controlled by Norwegian entrepreneur Petter Stordalen, the owner of Nordic Choice Hotels. The purchase price is SEK 1.5 billion, (approximately €150 million or €325,000 per room). The property will continue to be managed by Nordic Choice Hotels under a long-term lease contract and will undergo a renovation focusing on energy efficiency and a general upgrade of guest-facing facilities, including a renovation of all bathrooms.

 

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