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Host Property: Press release 06.08.2020 

Press release 06.08.2020

Host Property AB - Hotel operation - Change of ownership

On June 24, 2020, Hotel Management Sverige AB (part of Maribel AS) and 13 hotel operating hotel companies in Sweden filed for reconstruction. The reconstruction affected the hotel operating companies for the nine hotel properties in Host Property AB.

Host Hoteleiendom AS has as of July 30, 2020 taken ownership of the hotel operating companies of the nine Host Property AB hotel properties. The Flying Elephant Group, the 100% owner of Host Hoteleiendom (and Host Property), has extensive knowledge of operating hotels in the Nordic region, from 1993 until 2018.

It has been important for Host Hoteleiendom to take action and ownership of the Tribe Hotels operating companies in the current situation to secure the long-term values of the hotel properties. Host Hoteleiendom will in the coming months develop the strategy for Tribe Hotels. There have not been made any changes in the lease contracts of the nine operating companies at the Host Property hotel properties in connection with the transaction.

Christian Fuhr, Host Hoteleiendom AS, mob: +47 98 22 85 16, email: [email protected]

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