Ligula expands with two hotels in Copenhagen

Ligula has entered a lease agreement with Balder (publ) regarding the hotel properties that Balder announced today that they are acquiring; Copenhagen Plaza, Richmond Hotel, Mercur Hotel and Star Hotel, all four hotels are located in Copenhagen.

Ligula is per today operating Copenhagen Plaza and Richmond Hotel, and from 4th of July 2017 Ligula will be operating all four hotels. New and extensive lease agreements have been signed between Balder and Ligula, and both parties have agreed on an investment plan in order to be able to meet todays’ demands on modern hotels. The agreement means that Ligula now operates 475 rooms in Copenhagen, distributed between these four hotels.

“We are pleased to have acquired these four properties. We are also glad that Ligula takes over the operation of Mercur and Star, operating these two hotels together with the two hotels they already have a lease agreement for.” Says Marcus Hansson, CFO at Balder.

” This is a fantastic deal for us, these hotel gems give us a strong presence in the expansive and interesting city that Copenhagen truly is.” Says Uwe Löffler, CEO at Ligula Hospitality Group. “With Balder we get a professional property owner with a good insight in operating hotels, which facilitates future discussions greatly. We have also agreed on an investment plan that enables us to enhance the hotels, something that will benefit our hotel guests” continues Uwe Löffler.

”We will be able to meet the demand we see in Copenhagen to a greater extent, and now we can also offer guests wanting to stay in central Copenhagen more hotel options.” Says Christer Lundberg, Country Manager Denmark at Ligula. “This will also have a very positive effect on our possibility to offer the right hotel product to the right price. Beyond this, we are very pleased to be able to keep these four hotels, that share a common history, together.” Continues Christer Lundberg.

Ligula’s acquisition of these two businesses is aligned with the Group’s expansion plans. Ligula has continued acquisition plans for the Copenhagen area, together with the rest of the Nordic and Scandinavian capitals. Moreover, Ligula analyzes and evaluates bigger cities in Europe and other interesting hubs in the world for future hotel Projects.


Contacts

Uwe Löffler, VD och CEO +46 708 11 49 72 • Mike Kelderer, Commercial Director + 46 728 53 07 55 • Christer Lundberg, Country Manager Denmark, +45 22 60 23 19 • Marcus Hansson, CFO Balder (publ) +46 31 10 95 94