Marriott International is to open its first Finnish hotel is Espoo, the country’s second largest city.
It is planning to open a 17-storey, 272-bedroom hotel in the city in 2013, which is owned by BMZ Invest and Ultivista.
The hotel will be operated by Scandinavia Hospitality Management (SHM) which has a master development agreement with Marriott International.
SHM has signed a long-term lease with Ultivista on the property.
All parties are currently waiting for planning permission for the hotel, with development work likely to commence this autumn. Estimated development costs are approximately €63m.
Christie & Co advised BMZ Invest and Ultivista.