Hitt og þetta 20. júlí 2007

Norgani acquires Clarion Collection Hotel Bastion, Oslo

Norgani has agreed with Akershaven AS to acquire the property Clarion Collection Hotel Bastion, Oslo, in Norway for NOK 128 million. The property consists of 99 rooms, conference and restaurant facilities and is leased to Choice Scandinavia to 2015. This is Norgani's third hotel in Oslo. The price per Room is NOK 1, 3 million. "This property is well located in Oslo, in good condition and operated by a good operator. The favorable location will improve further during the coming years with the opening of the Opera and the coming development of the neighborhood. The property will strengthen our position in the Oslo hotel market, which we believe is a hotel market with strong growth. We also believe that this part of Oslo will outperform the rest of the Oslo market." says CEO Eva Eriksson. For further information: please contact CEO Eva Eriksson, mobile phone +46 706443497 CFO Mats Sterner, mobile phone +46 706902009 With a portfolio of more than 70 hotels in the Nordic region, Norgani is Europe's fifth largest hotel property investor. Through size and specialization Norgani has knowledge of and insight in the hotel industry, creating a unique platform for development of hotel properties and business in cooperation with operators and brands. The share is listed on the Oslo Stock Exchange. Homepage www.norgani.no