CapMan Hotels II fund has signed an agreement to acquire and redevelop 'KOY Oulun Kuvernööri' into a hotel, expanding Lapland Hotels Oulu's capacity by 95 rooms in response to high market demand.

Target Information

The CapMan Hotels II fund has entered into an agreement to acquire "KOY Oulun Kuvernööri," situated in the heart of Oulu, Finland. Currently functioning as an office space, this five-story property encompasses a lettable area of 5,657 square meters. The acquisition is intended for the redevelopment of the building into a hotel space as part of the Lapland Hotels Oulu, which will significantly enhance the area's hospitality offerings.

The redevelopment is projected to add 95 new hotel rooms to the existing inventory, responding to the substantial market demand for accommodation in the region. The initiative will not only augment overall hotel capacity but will also include the renovation of adjacent structures to create a unified hotel complex with a total of 250 rooms, along with improved dining and meeting facilities.

Industry Overview

In recent years, the Finnish hotel market, particularly in Oulu, has experienced considerable growth fueled by an increase in tourism and demand for quality accommodations. As Finland