Petter Stordalen
Petter Stordalen | |
|---|---|
| Born | Petter Anker Stordalen Bjorvand November 29, 1962 Porsgrunn, Norway |
| Occupation | Entrepreneur |
| Known for | Proprietor of Strawberry Group, Nordic Choice Hotels |
Petter Anker Stordalen Bjorvand (born 29 November 1962) is a Norwegian entrepreneur whose net worth is estimated at US$1.6 billion as of 2025. He is the proprietor of the Strawberry Group, a diversified conglomerate with interests spanning hotels, retail centers, real estate, finance, and the arts. Through Strawberry Hospitality Group, he oversees more than 230 hotels and employs approximately 17,000 staff members.
In recent years, Stordalen has increasingly devoted efforts to philanthropic activities alongside his former spouse, physician and environmental advocate Gunhild Stordalen. Their joint initiative, the Stordalen Foundation, established in 2011, funds scientific research and organizations focused on combating climate change. Additionally, since 2019, he has held co-ownership in SunClass Airlines.
Early life
Born in Porsgrunn on 29 November 1962 to Kari and Knut Anker Stordalen (1933–1994), Petter began selling strawberries locally at age 12 and was recognized as Norway's leading strawberry vendor in 1974. Following secondary education, he completed a year at Kjøpmannsinstituttet, briefly managed his father’s retail store, and subsequently enrolled at the Norwegian School of Marketing.
Shopping centers
At 24 years old, Stordalen assumed control of City Syd, Norway’s largest shopping center, achieving unprecedented profitability. He later served as property director at Made in, where he spearheaded the redevelopment of Trondheim’s market district and the relaunch of Liertoppen shopping center near Oslo. He also oversaw operations for the Bik Bok fashion brand.
By age 29, following involvement with Brynestad-related transactions, Stordalen joined the property development division of Realkreditt. He acquired the historic department store Steen & Strøm, with the investment being recovered within five days after reopening. Within three years, Steen & Strøm Invest had become Norway’s largest commercial real estate owner. This growth persisted until 1996 when a conflict with major shareholder Stein Erik Hagen resulted in Stordalen stepping down as CEO.
Hotels
After departing Steen & Strøm Invest, Stordalen formed a partnership with investor Christen Sveaas. In October 1996, they purchased a 68 percent stake in Choice Hotels for . Stordalen also acquired Swedish hotel chain Home and Norway’s InterNor, subsequently taking Choice Hotels Scandinavia public. Over a three-year period, the company expanded rapidly—adding a new hotel biweekly and increasing staff by 50 every ten days.
In December 1997, Sveaas divested his 37 percent interest in the portfolio that had grown to 77 hotels. By 1999, Christian Ringnes and Eiendomsspar acquired a combined 35 percent share in Choice Hotels Scandinavia but later withdrew. That same year, Stordalen extended his reach by acquiring Denmark’s Nordisk Hotel Group, Stenungsbaden Yacht Club, and Stockholm Globe Hotel. At age 37, he attained billionaire status in Norwegian kroner.
In 2012, Stordalen inaugurated the Clarion Post Hotel in Gothenburg, Sweden—a property featuring 500 rooms and of total space. The launch event attracted around 10,000 guests. A decade later in 2022, he opened the Somerro Hotel in Oslo’s Frogner neighborhood—a 231-room art-deco hotel converted from a historic office building dating back to the 1930s. Amenities include a rooftop pool and terrace.
Transition from public to private ownership
In 2000, Stordalen established Home Invest to consolidate properties previously held by Choice Hotels Scandinavia. The company was initially listed on the stock exchange but was taken private in 2001. By 2003, Choice Hotels Scandinavia had acquired stakes in the Swedish property developer Capona. The following year, Home Invest transferred ownership of 19 hotel properties to Capona in exchange for shares. Capona underwent a rebranding in 2006, becoming Home Properties. That same year, Home Invest purchased the remaining shares of Choice Hotels Scandinavia and removed it from the public market.
Home Properties separated Home Capital into an investment entity listed on Stockholm's First North Stock Exchange in 2006. Subsequently, Stordalen's Home Invest repurchased and privatized Home Capital in 2007, repeating the process with Home Properties in 2009. In 2019, Nordic Choice Hotels expanded its portfolio by acquiring Kämp Collection Hotels.
Investment portfolio
Petter Stordalen's business conglomerate, Strawberry, encompasses:
- Strawberry Group: An investment holding company that owns Strawberry Hospitality Group, Strawberry Advisory, Strawberry Properties, and Strawberry Art & Design. Its enterprise value was appraised at in 2015.
- Strawberry Hospitality Group: Manages Nordic Choice Hotels, one of Scandinavia’s leading hotel chains with 190 properties across Norway, Sweden, Denmark, Finland, and the Baltic countries. It employed approximately 13,000 people and recorded turnover of in 2015.
- Strawberry Advisory: Includes Strawberry Capital (formerly known as Home Capital until 2016), an investment firm concentrating on Nordic publicly traded and private companies, alongside Strawberry Equity, a private investment vehicle primarily targeting travel sector businesses; its enterprise value was assessed at in 2015.
- Strawberry Properties: Oversees ownership and development of 20 real estate assets valued at .
- Strawberry Art & Design: Responsible for managing Stordalen’s collection of over 400 artworks.
- Strawberry Fields: A private real estate investor focusing on key Nordic urban centers; valued at in 2015. Its holdings include:
- Strawberry Forever: Owner of properties such as Quality Hotel Friends and Clarion Hotel Amaranten located in Stockholm; with an estimated enterprise value of .
- Strawberry Brothers: Founded in 2015 as a partnership between Stordalen and Varner Invest AS; owns assets like Quality Hotel Globe (Stockholm), Clarion Hotel Royal Christiania (Oslo), and the Copenhagen Central Post Building; valued at .
- Strawberry Future: Dedicated to investments in sustainability projects and initiatives.
- PASAB: A collaborative venture with Norwegian developers Anders and Arthur Buchardt specializing in property development across Norway and Sweden.
Art collection
With growing wealth, Stordalen significantly expanded his collection of contemporary art. His initial purchase was a piece by American artist Ross Bleckner. He invested five million dollars in artworks for his Clarion Hotel Post in Gothenburg and Clarion Hotel & Congress in Trondheim. His private art holdings are estimated to be worth around thirty million dollars.
In January 2013, Stordalen unveiled The Thief located in Oslo’s Tjuvholmen area, featuring 119 rooms each decorated with distinctive original artworks. The hotel showcases an elevator animation created by Julian Opie, one of Stordalen’s favored artists. Additionally, The Thief formed a sponsorship agreement with the adjacent Astrup Fearnley Museum of Modern Art, enabling it to borrow significant works of art. Among his collection are several Andy Warhol renditions inspired by Norwegian artist Edvard Munch. Altogether, his combined personal and corporate art collections are valued at more than fifty million dollars.
Business philosophy
Stordalen’s commercial mindset, known as The strawberry philosophy, traces back to his childhood experiences selling strawberries for his father, who advised him, "Sell the berries you have; they are the only ones you can sell."
He hosts an annual winter gathering for Nordic Choice executives, typically held in Sweden. Alongside entertainment such as live camels and tailored performances, Stordalen delivers inspiring speeches often compared to religious revivals, aimed at strengthening corporate culture and boosting employee motivation.
Awards
- Grand Travel Awards recognizing Nordic as Best Scandinavian Hotel Chain (2007, 2008) and Best Workplace (2007–2011)
- European Hotel Design Award 2008 awarded to Stenungsbaden Yacht Club
- Sweden’s Most Trusted Brand 2008 by Reader's Digest for Selma SPA
- Customer Excellence Award 2008 from Microsoft Business Solutions for Choice
- Ernst & Young Entrepreneur of the Year 2010
- Nordic Business Forum’s Brightest Business Mind in Northern Europe 2016
- Leader of the Year 2017 at Grand Travel Award Sweden
Environmentalism
Stordalen has been a vocal supporter of the Bellona Foundation in securing the release of expert Alexander Nikitin, who faced treason charges related to a nuclear safety report. In 2002, he protested nuclear waste disposal by chaining himself at the Sellafield facility. In 2007, he was charged with trespassing after demonstrating against toxic waste dumping in the Oslofjord.
Alongside his wife, Gunhild Stordalen, he established the Stordalen Foundation, which secured Arnold Schwarzenegger as keynote speaker at the 2011 Zero-conference. The foundation backs the European Climate Foundation, where Gunhild holds a position on the supervisory board. In 2012, they participated in Al Gore’s Climate Reality Project expedition to Antarctica.
In June 2011, they launched GreeNudge to educate policymakers and influence environmental legislation. Nordic Choice Hotels, owned by Stordalen, ensures that all its properties comply with the ISO 14001 environmental management standard.
Personal life
Stordalen lives in Oslo. From his first marriage to Ingrid, he has three children: a daughter named Emilie and two sons, Henrik and Jakob.
He started a relationship with doctor and former model Gunhild Stordalen in the mid-2000s and proposed on Aspen Mountain during New Year's Eve 2008. They wed on 12 June 2010 in Marrakech in a ceremony valued at approximately US$5 million, marking it as Scandinavia’s most lavish wedding. The celebration included chartering an aircraft for guests and reserving all rooms at the luxury hotel La Mamounia. Irish musician Bob Geldof officiated the event attended by 240 notable Norwegians. Norway’s largest tabloid, Verdens Gang, hosted a digital guestbook for congratulatory messages. The couple earned the nickname "the Bill and Melinda Gates of Norway" due to their fusion of entrepreneurship and philanthropy. They announced their separation in November 2019 but continue to collaborate professionally.
Following the 2011 Utøya shooting, Stordalen contributed 5 million Norwegian kroner to the Workers' Youth League to assist in rebuilding their summer camp.
Bibliography
- Jeg skal fortelle deg min hemmelighet. Released in 2015.