Lapland Hotels will take over operations at the Cumulus Kuopio Station, one of three to go as part of the Restel deal.
Scandic Hotels says it has signed an agreement to divest the hotel operations of Cumulus Kuopio Station in Kuopio, central Finland to Lapland Hotels, a chain created in 2002 that currently runs 18 hotels and five ski resorts.
The buyer will take over the operations of the Kuopio hotel, which has 141 rooms, from November 1.
The reason for the disposal is that a decision by the Finnish Competition and Consumer Authority to approve Scandic’s acquisition of Restel was subject to the divestment of one hotel in Lahti, one in Pori and one in Kuopio.
On June 20, the sale of the Cumulus Pori was announced and Scandic has also initiated a process to divest the Scandic Lahti.
“We are satisfied with this agreement,” says Aki Käyhkö, managing director of Scandic Hotels Finland. “Lapland Hotels OY is an established hotel operator in Finland and the ideal fit for driving Cumulus Kuopio Station forward.”
The selling price for the Cumulus Kuopio amounts to approximately SEK 10 million (€940,000) and Scandic says that “the transaction is not expected to give rise to any significant effect on earnings”.
Scandic completed the process of rebranding the Cumulus properties, which it bought in 2017 with Restel’s hotel operations, at the start of June.