According to Sato President and CEO Saku Sipola, the accommodation service market leader Forenom is excellently equipped to achieve growth in the Hotelhome business.

”Hotelhome has been an interesting business area for us, but it has, however, remained rather small. Major efforts would be required to increase and develop the operations. We compared the various options available and decided that the best solution is to find such a new owner for the Hotelhome business that specialises in shorter-term accommodation services. The Hotelhome buildings will remain in Sato's ownership and will be rented by Forenom under long-term lease agreements. I believe our cooperation with Forenom will also grow in the future,” says Sipola.

Following the transaction, Sato will focus on developing its rental housing provision as well as diverse housing solutions and new housing services for consumers in growing cities.
Forenom CEO Johannes Kangas points out that the demand for furnished apartments is supported by current trends as people are increasingly mobile and the need for flexible solutions adaptable to a variety of situations is growing.

”We're excited and proud of the confidence placed in us. Sato's Hotelhome is a well-managed business and Sato's excellent housing stock enables us to serve our customers even more flexibly and extensively. An added plus is that six solid property business professionals will be joining our company,” says Kangas.