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NEWS Last modified on December 12, 2017

Swedavia agrees to sell new hotel under construction at Stockholm Arlanda

Swedish airport operator, Swedavia, has agreed to sell the new 503-room hotel currently under construction at Stockholm Arlanda for a fee of SEK1.3 billion.

The new owners will be a Swedish limited company set up by Pareto Securities and owned by Wenaasgruppen AS and OG Ottersland AS.

The new Confort hotel, set to be completed in late 2019 and operated by Nordic Choice Hotels on a 20-year lease, is located immediately adjacent to Sky City.

It will comprise 503 rooms as well as bars and restaurants spread over 20,000 square metres and 14 storeys, making it the largest airport hotel in the Nordic countries.

The sale is in line with the strategy Swedavia adopted for creating and realising value in order to further invest in the airport’s competitiveness.

“Stockholm Arlanda Airport is growing rapidly," says Swedavia's president and CEO, Jonas Abrahamsson.
Arlanda light
"Since 2010, passenger growth is up 56% from 16 to more than 24 million passengers a year and we have  added 19 new intercontinental air links since 2013.

"To meet this growth and the increased need for accommodation options, this hotel, which mostly targets leisure travellers and families in the affordable luxury segment, is being built."

Swedavia says that it is developing the airports of the future and Scandinavia’s most important meeting places.

The hotel will be located next to Sky City, with its wide range of shops and restaurants, and is one feature in the development of the district close to the airport terminals.

It points out that the district will offer good transport links, modern offices and new hotels as part of Airport City Stockholm, which is now taking shape around Stockholm Arlanda.
The property will be certified as 'Very Good' in accordance with BREEAM environmental sustainability standards. 

The transaction is being carried out at an underlying value of just over SEK1.3 billion. The capital gain is estimated to be about SEK350 million, and occupation is planned for 2019.

“The property really meets investors’ demands – that is, it will be delivered turn-key, fully leased on long leases," notes Karl Wistrand, chief executive of Swedavia Real Estate AB.

"With this sale, we create scope for more value-creating investments at Stockholm Arlanda.

"The deal is fully in line with our long-term strategy, and I am pleased that we can now continue the development of Stockholm Arlanda with new projects."

Cushman & Wakefield and the law firm Skierfe Advokatfirma served as advisors to Swedavia.

Wenaasgruppen and Ottersland worked in collaboration with Pareto Securities and the law firm MAQS Advokatbyrå on the deal.
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Wenaasgruppen is a family company that owns 24 hotels with a total of 10,407 rooms. The company’s total property portfolio is valued at about NOK19 billion.

It focuses on large hotels in cities and at airports in northern Europe and Russia and owns airport hotels in Oslo, Copenhagen, Moscow and Saint Petersburg.

OG Ottersland is a family company that owns hotel, office and shopping centre properties.

Its property portfolio is valued at NOK4 billion and includes 138,000 square metres of leasable space.

The company already owns two airport hotels at Oslo Gardemoen Airport.

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