Florida-based private equity firm H.I.G. Capital has bought the Hotel Ullensvang in Lofthus, Norway.
The 170-room property is located on the waterside of the Hardanger Fjord. Terms of the transaction were not disclosed.
“Hotel Ullensvang is an excellent addition to our existing portfolio of domestically-led wellness resorts located in core European markets. We believe this sector, in selected locations, will benefit from the resilience of local demand as well as tailwinds in staycation, wellness and sustainable travel,” Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty in London, said.
The hotel had been owned by the Utne family for 174 years, spanning five generations. In March last year they appointed CBRE as selling agents for the property.
H.I.G. has more than €36 billion of equity capital under management.