New hotels can be developed by constructing new buildings, converting office buildings or agreeing on new leases in existing hotels. Citybox can also buy property’s and develop it.
Citybox has a proven track record of industry leading returns on investment due to our unique concept combining efficient space usage and high profitability to the benefit of the guests and the company. This makes new Citybox hotels an attractive investment opportunity for property owners.
• Centrally located property
• Walking distance to urban transport hubs
• Conversion of existing building (office, retail etc.) or new development
• Minimal use of ground floor where retail is preferably
• 120 – 400 hotel rooms
• 3 500 – 12 000 m² GFA
• Normal sized hotel rooms, but efficient space usage for the hotel in total.
fixed or revenue-
(20+ years) and
Citybox AS, based in Norway, currently operates 2 hotels in Oslo and Bergen with about 340 hotel rooms. Next year (2019) another 2 hotels and an extension of the Oslo hotel are opened:
• Citybox Tallinn: 270 new rooms in the heart of the Estonian capital
• Citybox Bergen – Danmarksplass: an old office building is converted to 140 new rooms providing our guests in Bergen with another hotel
• Citybox Oslo: 2nd extension of our Oslo hotel which when completed will consist of 340 in all, making it Oslos 6th greatest hotel measured in number of rooms
• At the end of 2019 Citybox will operate 4 hotels with about 870 rooms spread out over the Nordics.
• Citybox was founded in 2006 by Executive Chairman Martin Smith-Sivertsen and is owned by the Smith-Sivertsen family and CEO Eivind Hjulstad.
Citybox aims to take the position as one of the leading modern low-cost hotel chains in Europe.