CapMan Real Estate press release
7 April 2025 at 12:00 pm EEST
CapMan Real Estate to renew legendary hotel Scandic Pohjanhovi, in Rovaniemi, northern Finland
Scandic Pohjanhovi, a well-known landmark of Rovaniemi, is set to be renewed as CapMan Real Estate, together with Scandic, performs a comprehensive refurbishment of the hotel in 2025–2026. The traditional hotel will be given a new look through an extensive renovation which will include updates to the hotel rooms, reception area, restaurant spaces, and building technology. The renovations are expected to be completed in 2026, the hotels the 90th anniversary year.
The hotel, which first opened its doors in 1936, has been updated several times over the years. The most recent renovation, which took place between 2022 and 2023, refreshed 84 rooms in the extension part with a modern look.
The upcoming renovation will focus on a large part of the main building’s first floor and the accommodation floors. A total of 128 hotel and bathroom suites will be updated, four new hotel rooms will be added, the building technology will be completely modernized, and all rooms will be equipped with individual cooling systems.
In addition to the room updates, the reception and restaurant areas in the main building will be redecorated with a new, warm, and inviting colour scheme. The hotel will also add several multi-purpose meeting and event spaces that can accommodate up to 350 people. A gym will also be included. The renovation is scheduled to start in April, during which the hotel will close, and it is expected to reopen to guests at the end of November 2025.
”We are excited that the long-awaited renovations will begin after the end of the busy winter season, allowing next winter’s guests to enjoy the updated rooms and restaurant areas. The renovation will also cater to our active guests with new facilities like a gym, dedicated spaces for children and youth, and coworking opportunities”, says Tammi Karjalainen, Hotel general manager of Scandic Pohjanhovi
”The refurbishment will significantly improve the hotel’s conditions and guest comfort. The updated ventilation and modern air handling units will ensure pleasant conditions all year round without compromising energy efficiency. The addition of room-by-room cooling will greatly enhance the comfort during the summer months. Overall, the renovations will provide guests with much more comfortable and modern facilities for both accommodation and relaxing”, shares Noora Kuvaja, Investment Director at CapMan Real Estate.
CapMan Real Estate first invested in the hotel property in 2008, and since 2018, the hotel has been operated by Scandic. The property is part of the CapMan Hotels II fund portfolio.
For more information, please contact:
Noora Kuvaja, Investment Director, CapMan Real Estate, +358 40 522 8272
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.1 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com