H.I.G. Capital has acquired Hotel Ullensvang, a 170-key upscale waterside resort located in Norway’s Hardangerfjord. Terms were not disclosed.
“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,” said Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty in London.
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“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 H.I.G.’s value-add expertise,” said Baptiste Boye-Møller, Director at H.I.G. Europe Realty.