Norgani, the Oslo-based listed hotel operator, has entered into a letter of agreement with Fearnely Finans Eiendom, on behalf of companies yet to be established, regarding the sale of four Danish hotels. Norgani said the hotels, Clarion Copenhagen, Scandic Kolding, Scandic Glostrup and Scandic Hvidovre, have been valued at EUR 83 mln, implying an estimated yield of 6%. The hotels have a total of 729 rooms and a lettable floor space of 34,744 m[sup]2[/sup]. The letter of intent is subject to due diligence and financing. Norgani said it expects the deal to be closed on December 31.