CapMan Real Estate press release
2 February 2026 at 11:15 a.m. EET
CapMan Real Estate and Scandic complete full refurbishment of historic Hotel Laajavuori
CapMan Real Estate and Scandic have completed an extensive refurbishment of the historic Hotel Laajavuori in Jyväskylä, Finland. The renovation project was delivered as planned, and the hotel’s final 117 newly upgraded rooms are now ready to welcome guests just ahead of the busiest winter holiday season.
The first phase of the renovation, which began in spring 2025, was completed last summer. This stage included the refurbishment of the hotel’s public areas, from the lobby and restaurant to its meeting and event facilities, as well as some of the guest rooms. With the completion of the second phase, the remaining rooms have now been renovated to meet modern standards of comfort, energy efficiency and usability.
The refurbishment of the protected hotel, originally constructed between 1969 and 1974, has been carried out with great respect for the building’s original spirit. Behind its concrete façade, guests will find a warm and atmospheric interior where the colour palette and materials of the era blend seamlessly with a contemporary hotel concept. The refurbished rooms emphasise comfort, elegance and sustainability, while adjustable in-room cooling further enhances the guest experience.
As part of the renovation, the building’s technical systems were comprehensively upgraded, significantly reducing the hotel’s environmental footprint. A new ventilation system and 71 geothermal wells installed on the property have markedly improved the building’s energy performance, raising its energy rating from class E to class B. Estimated annual savings in heating energy amount to approximately 1,500 megawatt hours, equivalent to the yearly heating needs of around 70–100 detached houses. Following the renovation, all of the hotel’s energy use is now completely carbon dioxide emission-free.
“Hotel Laajavuori is an architecturally and culturally significant property, and it was important for us to carry out the refurbishment in a way that preserves the building’s identity while also meeting the demands of the future. The renovation strengthens the hotel’s competitiveness for years to come and supports our objectives of sustainable value creation,” says Elias Salla, Asset Manager at CapMan Real Estate responsible for the property.
Guests will be able to stay in the refurbished rooms from Monday 2 February. In addition, the hotel will open its doors to residents of Jyväskylä on Friday and Saturday 6–7 February, offering guided tours and an opening weekend programme for visitors of all ages.
The property is part of the CapMan Hotels II fund portfolio.
For more information:
Elias Salla, Asset Manager, CapMan Real Estate, +358 44 301 0098
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and 7.1 billion euros 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, real asset debt, 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, Luxembourg, and Düsseldorf. We are listed on Nasdaq Helsinki since 2001. www.capman.com.