Ratos, the Swedish buy-out firm, has realised a 29% annualised return from a five-year gamble on hotel real estate by selling its stake in Capona, a Nordic hotel group, for Skr512m (€57m).

Ratos has sold its 40% stake in Capona to Choice Hotels Sweden. It has realised a total capital gain of Skr172m. In also received a Skr33m dividend from Capona in April.

William Hutchings

Scandic Hotels

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Hotel gamble gives Ratos 29% return

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