Primehotels chain sold to same owner after bankruptcy

The bankrupt Finnish hotel chain Primehotels has been sold to Nemeko Oy, a company already owned by the same individual, Yle reports. The chain’s three hotels in Helsinki, Varkaus, and Savonlinna will continue operations under the new ownership.

The decision was finalised at a creditors’ meeting on Thursday. Nemeko, which already owns the property for Helsinki’s Hotel Rantapuisto, will acquire Primehotels’ business operations, though Savonlinna’s Spahotel Casino remains under bankruptcy administration for now.

Eero Nuutinen, owner and CEO of both Primehotels and Nemeko, confirmed to Yle that negotiations for Casino—including its summer annex, Vuorilinna—are ongoing with the bankruptcy estate. A resolution is expected next week. Together, the two properties account for roughly one-fifth of Savonlinna’s city-centre accommodation capacity.

Nuutinen stated that most employees will retain their jobs, though some redundancies are unavoidable. “The majority of staff will continue as usual, but we won’t be able to secure positions for everyone,” he said, adding that details would be clarified later.

The chain’s hotels in Helsinki and Varkaus operate year-round, while Savonlinna’s Spahotel Casino faces seasonal challenges, particularly in winter. Nuutinen noted efforts to develop off-season solutions for the Savonlinna property, where recent renovations at Hotel Oscar include adaptations for communal senior living.

Primehotels filed for bankruptcy after pandemic-related losses, but Nuutinen expressed optimism about recovery under Nemeko’s ownership. The hotels have remained open throughout the process.