Vander challenges the hotel industry
By offering fully equipped apartments for longer stays, Vander has grown into a strong player in the hotel market. Now, further expansion in the Nordics awaits.
As the market for apartment hotels grows, Vander has experienced strong development. Today, the company is established in several locations in Norway and Sweden, with ambitions to expand into even more cities.
– We offer service apartments, often located in regular residential buildings where guests stay for longer periods, as well as apartment hotels which consist of slightly smaller units, says Alexander Blom, CFO of Vander.
The business idea of offering fully furnished and equipped apartments for extended stays has proven successful.
– Our guests stay longer than just one night, which is the average in the hotel industry. That places different demands on comfort. Our apartments should be spacious and functional, whether you are an expat, a business traveler, or a young family.
Unlike many other players, Vander has grown organically, without venture capital.
– We have been profitable every year since the start, building the company step by step without external investors. This has made us extra conscious about both costs and quality.
Much of the operation is handled in-house, from cleaning to maintenance, which has been both cost-effective and reduced the company’s climate footprint.
– We don’t offer breakfast and have our own cleaning team, which results in up to 45% lower climate emissions compared to traditional hotels.
The business model itself also provides environmental benefits.
– When guests stay longer, emissions per night are reduced. This makes our model more sustainable, both economically and environmentally.
Corporate culture has also been an important growth factor:
– Many in leading roles started in customer service and have grown with the company. This shows that we have a work environment where people thrive and want to stay. Our culture is built on commitment and responsibility for how resources are used.
With Norion Bank as its financing partner, the company is pushing forward, including expansions in Malmö and Gothenburg.
– Last year, we faced a very complex transaction, but with help from Norion Bank, we found a good solution. Norion Bank understands our business model and gives us flexibility, which we truly appreciate.