The four properties are all located next to the central station in Copenhagen and are today run under the names Star, Mercur, Richmond and Plaza. Balder will sign long term lease agreements with Ligula Hospitality Group to operate all four hotels.

"We are happy with these four acquisitions and happy that Ligula will operate Mercur and Star along with the two hotels that they already had leases on," says Balder CFO Marcus Hansson.

The transaction will close during the third quarter.