YIT and Odyssey Hotel Group sign a pre-agreement on the Wasa Station project in Finland

YIT Corporation Press Release September 12, at 11:00 a.m.

YIT and Odyssey Hotel Group, a Dutch hotel chain, have signed a pre-agreement on August 23, 2019, on the rental of premises in the planned Wasa Station block in Vaasa, Finland, for hotel use. The agreement concerns 198 hotel rooms on floors 0–12 of the tower, including restaurant and service facilities and covering approximately 7,000 square metres. The hotel chain has numerous hotels and brands in Europe. The brand of the future hotel in Wasa Station will be confirmed and published later.

“We are happy that we now can move forward with the hotel in Vaasa,” says Rick van Erp, CEO of the Odyssey Hotel Group.

“The hotel will be an important part of Wasa Station, so we are pleased to welcome Odyssey as a hotel operator to Ostrobothnia and Vaasa,” says Regional Director Mikael Snellman from YIT.

YIT is planning to build Wasa Station, a new urban multipurpose block spread over three hectares at the site of the old bus station in Vaasa, Finland. When completed, Wasa Station’s 25-storey tower would be a local landmark. YIT and the City of Vaasa signed a letter of intent regarding the project in August 2014 and an implementation agreement in summer 2017. The area has been zoned and the application for a building permit is subject to, among other things, the City of Vaasa making a decision on the construction of a music and congress centre with a total floor area of approximately 10,000 m2. YIT’s previous pre-agreements related to the same development project include an agreement with Kesko on leasing retail space in the Wasa Station shopping centre.

The plan for Wasa Station is to create a meeting place and event centre that includes a music and congress centre as well as sports and multipurpose facilities. The tower at the southern end of the block will consist of a hotel with approximately 100 apartments above it. A service and shopping centre is planned for the middle of the block.

For further information, please contact: 
Mikael Snellman, Regional Director, YIT, tel. +358 40 7215 835, mikael.snellman@yit.fi
Arja Korhonen, Communication Manager, YIT Corporation, tel. +358 40 5545 806, arja.korhonen@yit.fi

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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