Norwegian hotel magnate Petter Stordalen is buying Finland's luxury hotel chain Kämp Collection Hotels for just over one billion kronor. 

At the same time, the hotel king takes the opportunity to give his view on the stock market. 
”The only thing that is one hundred percent certain in my head is that there will be a crisis.”

When Petter Stordalen got the chance to buy Finnish Kämp Collection Hotels, he jumped at the chance. With the deal, Nordic Choice Hotels now owns more than 200 hotels.

”"For us it was a unique opportunity to become number one in Helsinki and for me this is an adventure. I get that opportunity once in a lifetime, so it's a big day for the company and for me," says Petter Stordalen.

The Finnish hotel chain has eleven independent hotels in its portfolio, including Kämp, St George and Hotel Fabian. Kämp Group has a turnover of approximately 100 million euros this year, equivalent to 1 billion kronor. 

”"For many years I thought 'I can never get it'. When I got the opportunity to negotiate, many were involved at the beginning, but in the end there were only two left and then I had decided, I won't let that opportunity go away. When the third round was over, we had decided, now we're going to get Kämp! And then, as so often before, I had to pay too much."’

An informed source that Dagens Industri has spoken to claims that Stordalen has paid just over a billion kronor for Kämp Hotel.

The hotel chain currently has a total of 1,406 hotel rooms and an additional 350 are planned. The chain has nearly 600 employees and is known for its restaurants.

”"The expansion in Finland is a strategically important step for the group. The luxury and lifestyle segment within hotels is growing globally and with the acquisition of Kämp Collection Hotels we are strengthening our range of premium hotels in the Nordic region," writes Torgeir Silseth, CEO of Nordic Choice Hotels, in a press release. 

Source: di.se