H.I.G. Capital announced that an affiliate has recently completed an investment in Hotel Ullensvang, Lofthus, a 170-key upscale waterside resort located in Norway’s Hardangerfjord. An institution in the Norwegian hotel market, the resort is set in stunning landscape surroundings with views of the fjord and Folgefonna glacier. Terms were not disclosed.
Riccardo Dallolio, Managing Director and Head of H.I.G. 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 H.I.G. 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 H.I.G.’s value-add expertise”.