YIT to renovate Hotel Kämp in the centre of Helsinki

YIT Corporation Investor News 12 April 2023 at 8:45 a.m.

YIT Hotel Kämp
YIT Hotel Kämp

YIT renovates Hotel Kämp, owned by Ilmarinen Mutual Pension Insurance Company, in the centre of Helsinki. The project will be implemented as a project management contract. The parties have agreed that the total value of the contract will not be published.

The work will begin in the end of the year 2023 and the project is scheduled to be completed by the end of 2025. The scope of the renovation is approximately 18,000 gross m2. The restaurant and bar of the hotel will also be renovated. The renovation will follow the principles of sustainable development. The hotel will be connected to carbon-neutral district cooling and heat recovery systems will be replaced with modern solutions. The building's automation system will be adapted to the hotel's needs, avoiding unnecessary energy consumption.

"We have set a life cycle target of 25 years for the renovation of the Hotel Kämp in cooperation with the Nordic Choice Hotels chain. In addition to the hotel rooms, the building's legendary spaces such as the hall of mirrors will be thoroughly renovated. Façade renovation and building automation upgrades will achieve significantly better control of energy consumption. The renovation of lighting and kitchen equipment will be based on solutions that are durable, easy to maintain and energy-saving," says Pirjo Pernu, Project Manager at Ilmarinen.

The hotel and the Kämp Galleria shopping centre, located in the same property, will serve customers throughout the renovation. The hotel was opened in 1887. Its façade, facing Pohjoisesplanadi, represents renaissance revival, was originally designed by the architect Theodor Höijer.

"We have long experience and strong expertise in renovating the most demanding sites in the centre of Helsinki," says Kalevi Stenman, Vice President of Business Premises Renovation at YIT.

Further information:
Samu Heikkilä, Investor Relations Manager, YIT, tel. +358 44 581 7979, samu.heikkila@yit.fi 
Tom Ekman, EVP, Business Premises segment, YIT, media inquiries through Group Communications, tel. +358 44 743 7536, press@yit.fi
Kalevi Stenman, Vice President, Business Premises Renovation, Helsinki Metropolitan area, YIT, tel. +358 (0)40 7238 393, kalevi.stenman@yit.fi 

YIT Corporation

Tuomas Mäkipeska

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ approximately 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Czech Republic, Slovakia and Poland. In 2022, our revenue amounted to EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com