Revelop signs agreement with IHG Hotels and Resorts
Stockholm, 30 January: Revelop has signed an agreement with the UK-based, global hospitality company IHG Hotels & Resorts introducing the voco hotels brand in Kista, Stockholm. The hotel, created by converting 9,000 square meters of the Revelop owned Nordic Forum, will offer conference facilities, restaurant, spa and an indoor swimming pool. The hotel will be operated by Mogotel Hotel Development.
Revelop has signed a new 25-year lease agreement of 9,000 square meters with Mogotel Hotel Group (Mogotel) and IHG Hotels & Resorts (IHG) in the property Nordic Forum. The hotel will be operated as voco hotels property, one of IHG’s premium brands, and offer 201 rooms, a full-service restaurant, conference facilities and a spa with an indoor swimming pool. The hotel will be completed during the spring and is set to open after the summer.
IHG is one of the world’s largest hospitality companies with more than 6,200 hotels and nearly one million rooms worldwide. The establishment in Kista will be IHG’s first in Sweden, after the brand exited the market ten years ago, with plans to grow further in Sweden and throughout the Nordic region. voco hotels offers a premium experience to guests and combines the informality and charm of an individual hotel with the quality and reassurance of a global and respected brand.
Revelop acquired Nordic Forum in 2016 and has carried out extensive repositioning including a transformation from brown to green. ESG initiatives includes energy optimization, solar panels, area optimisation and investment in outdoor environment, including a building façade program, a new park and an outdoor gym. Nordic Forum is today a sustainable, modern full-service asset with spacious lounge areas, a gym and Revelop’s self-developed co-working concept C/O Workspace. During Revelop’s ownership the occupancy has moved from 45% to soon fully let. The asset will be certified according to BREEAM In-Use Very Good.
“I am very happy that IHG have chosen Nordic Forum for their first hotel in Sweden, bringing the voco experience to Kista. The hotel will have a significant positive impact, increasing the number of visitors to Kista during all hours of the day. Through the letting we are transforming outdated office space to a modern premium hotel experience, in line with Revelop’s strategy to extend the life of existing buildings and repurposing them with new relevant content.” says Thomas Sipos, Group CEO at Revelop.
Miguel Martins, Head of Development Northern Europe at IHG, says: ”We are delighted to partner with Revelop to bring this voco hotels property to city of Kista. voco hotels is a brand that is highly popular with guests for its unique charm and character, and is equally favoured by owners due to its conversion friendly design and operational framework. It is the perfect fit for this project, and together with Revelop and Mogotel, our shared values and focus on sustainability promise for an exciting new hotel. We look forward to opening our doors and welcoming even more guests to our wonderful city.”
”Entering the Swedish market is a major step forward for Mogotel. We are thankful for our partners’ trust as we embark on this journey. Our focus is now on growth and establishing a strong presence in Stockholm and across Sweden.” says Ivans Dokicans, Chairman of the Board at Mogotel Development Holding, Head of Development.
“This project marks a significant milestone for us,” says Sabine Krievina, Member of the board, Director of Project Management at Mogotel Development Holding. ”It’s not just a new venture in Stockholm and Sweden; it’s a new and exciting chapter in our story, as we start our cooperation with IHG Hotels & resorts. We’re thrilled about the opportunity to bring the unique character of the voco brand into this dynamic city and look forward to making our mark in the heart of Stockholm”.
For more information, please contact:
Thomas Sipos, Group CEO & Executive Partner at Revelop
tel: +46 70-980 66 06
Revelop is not an ordinary real estate investor. We invest in places where we can create a positive, long-lasting impact by repositioning and developing real estate with a distinct focus on sustainability. The company is ranked by the data and analytics company Burgiss as one of the world’s best performing real estate fund managers over time in terms of consistent returns. The existing real estate portfolio comprises 610,000 m2 and the value amounts to c. SEK 8 billion.