HELSINKI, November 30, 2011 -- Norwegian developer Arthur Buchardt, in cooperation with the hotel and restaurant company Palace Kamp Group [http://www.palacekamp.fi/in_english ], based in Helsinki, Finland, will start a major hotel project designed by Architects Davidsson Tarkela Oy. As a result, a 26,000 square meter hotel and conference centre will be opened in Jatkasaari, Helsinki, in November 2014. Kamp Tower will also become a lively tourist attraction: its vantage point at the height of 120 meters will be the highest viewpoint in central Helsinki.

Currently the hotels around the capital region combined offer hotel services with a capacity of 11,000 rooms. During the last 20 years, the hotel market has grown an average of 3.5 per cent each year, which, in terms of capacity, is approximately 350 rooms per year. The new Kamp Tower will increase the accommodation capacity in 2014 by a total amount of 380 rooms. The name and the concept of the hotel will be released closer to the grand opening, but it is already clear that with this new project Palace Kamp Group [http://www.palacekamp.fi/in_english ] will meet the needs of both consumer and business customers. The turnover goal for Kamp Tower's first operational year is EUR20 million and it will provide employment to approximately 200 people. The impact on the employment situation is already significant during the building stage.

In addition to hotel services, Kamp Tower will also meet the Helsinki capital region's demands for meeting and conference facilities with its significant conference capacity. Thanks to many side-by-side meeting rooms, Kamp Tower can accommodate events for up to 1,200 people. The seven meter-high rooms make assembling various exhibition structures and organizing different music or concert events fully feasible. Kamp Tower will also include an assembly hall for up to 800 guests.

The hotel services will be of international top quality. The 2,500m2 spa and health club and the pool with a view of the sea on the sixth floor of the tower will open new dimensions for hotel experiences. The sun terrace will be on the 29th floor of the hotel, at a height of 100 meters. The restaurants in the new Kamp Tower will seat over 500 customers. The hotel will be furnished with the high-quality design furniture by top designers from both Finland and abroad, among them Alvar Aalto.

Kamp Tower will make Helsinki an even more attractive destination for foreign visitors: it will be the tallest building in the city centre. The Sky Bar & Restaurant will offer top-level restaurant services on the 34th floor, at a height of 100 meters. The terrace on the 35th floor of the tower, at a height of 120 meters, will be open to the public and will offer the opportunity to enjoy the views of the city and the sea from a unique perspective.

Palace Kamp Group [http://www.palacekamp.fi/in_english ] is a private-owned hotel and restaurant company which originates from the legendary Kamp Hotel [http://www.hotelkamp.com ], established in 1887 on Pohjoisesplanadi (North Esplanade) in Helsinki, Finland. The company employs approximately 500 people. The company consists of hotel and restaurant groups and the hotel group consists of five hotels, with a total of 676 rooms, and the hotel restaurants. In addition to Hotel Kamp, the hotel group includes four GLO Hotels [http://www.hotelglo.fi/en ] in the capital region. Turnover for the hotel group is approximately EUR44 million (about 75 per cent of the total turnover of the company). Measured in value, the market share of the hotel business in the capital region was approximately 10 per cent in 2011.