Hotel giant Marriott International has agreed to open its first hotel in Finland.
Marriott has secured a long lease on a 17-storey, 272-bedroom hotel in Espoo, Finland’s second-largest city.
The hotel will open under the flagship brand, Marriott Hotels and Resorts. However, it will be operated by Norway-based hotel operating company Scandinavia Hospitality Management, which holds a master development agreement with Marriott International.
The hotel is jointly owned by real estate investment and development company Ultivista and BMZ Invest.
Planning permission for the hotel is now being sought for a €63m (£53m) development, which is likely to start this autumn. It is scheduled to open in 2013.
Kimmo Virtanen, director at Christie + Co, which advised BMZ Invest and Ultivista, said: “This will be a welcome internationally-branded addition to the market supply of Helsinki’s Metropolitan Area, and will bring a fresh product to the sector. There continue to be selective opportunities for further developments and brands in this market.”
annabel.dixon@estatesgazette.com
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