Pan-Nordic serviced apartment provider Forenom acquires Apartment HS AB to become Sweden’s biggest.
A fast-growing corporate housing provider in the Nordic region, Forenom, has completed its second acquisition in Sweden within the space of a month.
By buying Apartment HS AB with over 500 apartments, Forenom is expanding its portfolio to offer more long-stay accommodation and “becomes a market leader in the serviced apartments market in Sweden”.
In Stockholm alone, 25% of the city’s serviced apartments are now covered by Forenom.
Apartment HS AB was founded in 1996 to offer accommodation for personnel who are working temporarily in Stockholm with a need for alternatives to traditional hotel accommodation.
Both companies specialise in providing “accommodation solutions” for extended-stay business customers who want to live a normal life while staying abroad.
Forenom’s previously stated strategic goal is to become the leader in the Northern European serviced apartment business with the most extensive selection of staff accommodation services.
Strengthening its position in Sweden with the new deal, the company now offers 1800 accommodation options in serviced apartments and hotel apartments in the country.
“We want to be #1 in the North European serviced apartments business, and in Sweden our next step is to complete our offering with budget options such as hostels designed especially for business needs,” says Johannes Kangas, Forenom’s chief executive.
Forenom is the only serviced apartment provider operating in all four Nordic countries of Sweden, Norway, Denmark and Finland. It is the market leader in Finland and Norway.
In Sweden, Forenom boosted its portfolio recently with new offices in Malmö and Gothenburg and by acquiring the Swedish leading aparthotel chain StayAt. The new acquisition of Apartment HS AB means it is also the market leader of serviced apartments in Sweden.