International real estates advisor Savills and its Norwegian associate Heilo Eiendom  have been jointly appointed by Avinor to sell the Radisson Blu Oslo Airport Hotel in Norway.

The hotel features 500 upscale bedrooms, a restaurant, bar, extensive conference facilities and sports and wellness amenities including a golf simulator. The hotel is linked to the airport terminal and is currently let to Rezidor on a 20-year lease with both fixed and variable rents.

The vendor, Avinor, is a wholly-owned limited company controlled by the Norwegian Ministry of Transport and Communications which is responsible for 46 state-owned airports.

Robert Stapleton, director of hotels at Savills London, comments: “Radisson Blu Oslo Airport Hotel is by far the highest performing hotel at the Oslo airport and one of the best performing in all of Norway. In addition, the lease to Rezidor offers long term stable income. We therefore anticipate a high level of interest from both domestic and international investors.”

Trond Sejersted Bødtker, partner at Heilo Eiendom, adds: “Avinor is looking to sell the property as part of the financing of the company´s extensive investment plans for the coming years. Avinor has owned the hotel since it opened in 1998 and we´re proud to be able to present this rare opportunity to the market.”

Research from Savills finds that over €650 million has been transacted in the Norwegian hotel market since 2012.