London,
27
February
2020
|
10:43
Europe/London

THE OWNERS OF THE LANDMARK HOTEL ULLENSVANG, LOCATED BY THE WORLD FAMOUS HARDANGER FJORD IN NORWAY, TODAY ANNOUNCED THEIR INTENTION TO SELL THE BUSINESS

The owners of the landmark Hotel Ullensvang, located by the world famous Hardanger Fjord in Norway, today announced their intention to sell the business.

This hotel attracts several thousand tourists from Asia, the USA and European countries every year and has been in the ownership of the Utne family for 174 years, spanning five generations.

“After in-depth deliberations, we have concluded that better models than family ownership are available to secure further growth and development for the hotel in a long-term perspective,” said CEO and fifth-generation owner Hans Edmund Utne. “That is why we have decided to investigate whether there are new owners ready to take this beautiful property to the next stage.”

Global real estate advisor CBRE has been appointed selling agent for the planned transaction, where both Norwegian and international investors will be targeted.

Hotel Ullensvang was founded by Hans Utne in 1846, with two beds for rent. Five generations later, the hotel has 168 high-quality rooms, a 500-seat restaurant and a conference capacity of 350 people. It also has an indoor activity center, indoor and outdoor pool areas and wellness facilities.

The stunning landscape surrounding the hotel is referred to as the orchard of the Norwegian fjords. Set against the backdrop of the majestic Hardangervidda mountain plateau, with a stunning view towards the Folgefonna glacier and the Hardanger Fjord, Hotel Ullensvang occupies a unique location.

Its facilities and position provide vast opportunities for activities, ranging from summer skiing to fjord sightseeing and spa vacations. Located near Bergen, in the heart of western Norway, Hotel Ullensvang also offers the perfect base for curious visitors seeking to explore this region. Adventurers from all around the world are lining up to experience a slice of the crisp, clean nature available here.

Over the years, the hotel has been extended and continuously renovated to accommodate its increasingly global and choosy customer base. Roughly half its guests are foreign, reflecting the fact that Norway is experiencing a booming demand for fjord holidays and that the market for luxury tourism is increasing.

The hotel has a rich history and has hosted and provided inspiration to many people over the years, such as royals, politicians, artists and composers. Among them is Norwegian composer Edvard Grieg, who wrote many of his best-known works on the premises. Her Majesty Queen Sonja of Norway is a regular guest at the hotel, which also houses a permanent exhibition of her artworks.

Erik Myklebust, Senior Director, Hotels, CBRE Norway
This is one of the best-known and unique hotels in Norway, located in the heartland of the famous Norwegian fjords. It has significant development potential and is a platform for future profitable tourism growth in Fjord Norway. 
Erik Myklebust, Senior Director, Hotels, CBRE Norway