Choice Hotels buys Copperhill Mountain Lodge in Åre

Choice Hotels buys Copperhill Mountain Lodge in Åre 31 August 2009 (Stockholm, 28 August 2009) Today, Choice Hotels Scandinavia signed an agreement for the acquisition of Copperhill Mountain Lodge in Åre, Sweden. The 20,000 m2 facility includes a hotel, staff quarters and associated cabins, and the acquisition price has been set at SEK 200 million. The hotel was completed in December 2008, following investments in the amount of SEK 750 million. - “Finally! This is the first time that I have bought copper for the price of granite. But I am sure that this will turn into a gold mine for Choice,” says Petter A. Stordalen, owner and chairman of the board of Choice Hotels Scandinavia. The hotel complex is to be purchased by Home Properties, the property company owned by Petter Stordalen, and Choice Hotels will be responsible for its operation. - “We believe strongly in the opportunities that the facility offers, and in Åre as a destination. We hope that the snow comes early to Åre this year so that we can get started as soon as possible,” says Torgeir Silseth, Managing Director of Choice Hotels Scandinavia. Strong focus on Sweden I juni köpte Choice Stockholms Nordic Light Hotel och Nordic Sea Hotel. In June this year, Choice purchased the Nordic Light Hotel and Nordic Sea Hotel in Stockholm. Comprising a total of 542 new rooms, these two acquisitions made the chain the largest player in the city. In addition, on Thursday, 27 August, Petter Stordalen and Torgeir Silseth signed the final contract for the construction of Clarion Hotel Arlanda Airport, an airport hotel with a total of 400 rooms spread over eight storeys. This hotel is scheduled to open in 2012. It is being built together with Sky City and the terminals, providing direct access to regional and international air traffic. In all, Choice is working on projects for 11 hotels with 3,031 rooms in the period up to 2014. Choice Hotels Scandinavia is the largest hotel chain in Scandinavia, employing 9,200 people and operating more than 170 hotels. The group markets the Comfort, Quality, Quality Resort, Clarion and Clarion Collection on the Nordic and Baltic markets. For additional information, visit www.choicehotels.no