Expansion looms for former Olympic ski resorts 

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Investors have big plans for the two Norwegian ski resorts Hafjell and Kvitfjell. The new owners claim it will represent the biggest investment since both were first developed for the Olympics at Lillehammer in 1994.

Newspaper Dagens Næringsliv (DN) reported that state-owned Investinor sold its 49 percent stake in Alpinco, the company that owns and operates Hafjell and Kvitfjell. The buyers are Norwegian-American investor Bjørn Erik Borgen and the Buchardt family’s investment company AB Invest, which is known for hotel properties and has long been active at both Hafjell and Kvitfjell (fjell means “mountain” in Norwegian).

Now Anders Buchardt notes how Alpinco already has invested in further development of Kvitfjell’s Varden area, and in a new express-lift to the top of Hafjell. “And we have great ambitions beyond that,” Buchardt told DN. “Everything is clear for a considerable increase in real estate investment.”

The state’s Investinor sold its shares in Alpinco at a gain of NOK 115 million. Its chief executive Haakon H Jensen told DN that given all the expansion plans, “we think it’s a journey that’s best for long-term investors” like Borgen and Buchardt.

newsinenglish.no staff

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