After a successful turnaround and just 2 years of ownership, the asset manager Artha sells October 1, 2019 together with the associated Danish investors, including Borris Tangaa Nielsen, Marienlyst Strandhotel, to the Swedish asset manager and hotel investor Midstar in a deal that is expected to bring investors behind a solid return of nearly 50 percent.

In August 2017, a group of Danish investors with asset manager Artha bought the head of Marienlyst Strandhotel in Helsingør.

After just two years of ownership, an extensive renovation and an intensive turnaround, which in a record time has brought the well-known bathing hotel in Helsingør back to its former glory, it has become time for another change of ownership, and it is aroused by the salesmen who with the sale to the Swedish asset manager and hotel investor Midstar AB for an undisclosed amount on the good side of DKK 500 million can realize and distribute a return of 50 percent between the parties.

"We initially had a time horizon of 5 years, but the execution of the strategy has been so successful that the ideal future owner is ready to take over after only 2 years. We are also very proud that with our turnaround we have succeeded in bringing Marienlyst back into the limelight as North Zealand's grande dame and creating value in the local community with increased tourism and more jobs," says Jan Severin Sølbæk, CEO of Artha Holding, who sends a special greeting to property developer Falk-Rønne Kierkegaard, who introduced Artha for the acquisition opportunity back in 2017 and even joined the ownership circle in connection with the acquisition.

"At Midstar AB we see a competent new owner who, if anyone, knows where the hotel is going on his next trip - and how to get there," says Jan Severin Sølbæk.

Artha manages over DKK 12 billion on behalf of about 500 Danish wealthy people, with its Selection department has gradually made it a habit to surprise the market with special, hand-picked investment cases such as the purchase and sale of the bus company Umove and the renovation of Holstein's Mansion in Copenhagen.

Artha herself describes her success as an industry-agnostic investment approach, where the secret lies in snuff sensible business sense and an ambitious, active ownership with a competent board of directors and a powerful management team.

"Our strength has been that we have managed to combine business and pleasure better than the rest of the competitors. Under Artha's ownership, we have managed to raise revenue from DKK 70 million in 2017 to DKK 132 million in 2018, and in 2019 under the new ownership we expect to reach DKK 155 million in revenue," says CEO Michael Lauritsen, who has been the prime mover for the major restructuring of the hotel, and continues as chief executive of Strandhotel Marienlyst through the Swedish ESS Group, which is, among other things, behind the Swedish counterpart, Ystad Saltsjöbad.