Finnish private equity firm CapMan Oyj and other co-owners agreed to sell Palace Kämp Hotellit to Nordic Choice Hospitality Group AS for an undisclosed amount.
The deal remains subject to approval from competition authorities.
Established in 1887, Helsinki-based Kämp Collection Hotels comprises 10 hotels with 1,406 rooms, as well as 17 restaurants and bars and two spas. An eleventh hotel is set to open in 2023 in Espoo.
Middle-market-focused CapMan Buyout X LP owns the group, along with other investors, including Berling Capital Oy, Rake Oy and executives of Kämp. Employees of the target company will continue in their current roles.
Oslo-headquartered Nordic owns three hotel chains, including Clarion Hotels, Quality Hotels and Comfort Hotels, as well as more than 20 independent hotels.
