Press release —

Citybox Amplifies Growth Strategy by Strengthening Development Team with Experienced Talent

Leif Kristen Olsen has become part of Citybox's development team since he took the position of Senior Development Manager on 1 February.

Leif has experience in hotel and commercial real estate and hotel operations in the Nordic region. He has been CEO of Lister Forvaltning AS and was employed as Vice President of Business Area Norway, Denmark & Sweden for Pandox AB between 2008 and 2020. He has a background from Nordic Choice Hotels and Norlandia Hotels. Leif holds a Bachelor's degree from the Norwegian School of Hotel Management and a Master of Management from BI Norwegian Business School.

- Citybox has a goal of becoming one of the leading low-price hotel chains in Europe, with 40 hotels by 2030. We are pleased to welcome Leif, and with his solid experience, the team is provided with additional knowledge and expertise, and we gain increased capacity to continue the expansion in the Nordic region and Europe, says Morten Høiseth, Head of Development.

- Citybox's hotel concept has been very well received by guests, and long-term lease agreements have been signed with major real estate players such as Eiendomsspar and Pandox. This is an incredibly good foundation for further development and expansion, and I look forward to being part of the team and contributing to the ambitious growth plans for Citybox, says Leif Kristen Olsen.

Citybox Hotels currently operates seven hotels with approx. 1,300 rooms in Oslo, Bergen, Kristiansand, Antwerp, Tallinn, and Helsinki. The operator has five hotels and approximately 900 rooms under development in Stockholm (2024), Brussels (2024), Stavanger (2025), Kristiansand (2025) and Tromsø (2026).

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