CBRE picked to sell landmark hotel in Norwegian fjords

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

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

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