London & Regional Properties (LRP) has entered the Scandinavian hospitality market and acquired the Finnish hotel owner, Dividum, for an undisclosed sum.

L&RP used its Scandinavian arm, LR Swedish Properties, as a vehicle for the deal, which will see L&RP take over ownership of 32 hotels throughout Finland, including the Ramada Airport and Hesperia hotels in Helsinki.

In total, the 32 hotels have 5,600 rooms, 328,000sq m of floor space and a combined turnover of around E300m (£204m).

Thomas Lindeborg, chief executive of LR Swedish Properties, said: “This is our largest investment outside the UK since we acquired three Swedish property businesses in 2002.

“The acquisition of Dividum is in line with our strategy of gaining a foothold from which we can expand our Scandinavian hotel operations.”

Tomi Bergman, chief executive of Dividum, said: “This deal will enable us to strengthen our position as the leading owner of hotel properties in Finland, as well as joining one of the largest property portfolios in Europe.”