Topaz Explorer Group Acquires Hotel Qaqortoq
In what marks a significant shift in the South Greenland hospitality landscape, Topaz Explorer Group has announced the acquisition of Hotel Qaqortoq. The transfer of ownership will officially take effect on January 1, 2026.
Michael Højgaard, the director of Topaz Explorer Group, shared insights on this pivotal move. The hotel will join an established portfolio within the company’s Greenland division, which already encompasses renowned establishments such as Igaliku Bygdehotel, Hotel Icefiord, Hotel Disko Island, and Hotel Diskobay.
Hotel Qaqortoq, under the ownership of Jim Riis since December 1985, has undergone multiple expansions, now boasting 46 well-appointed rooms. Højgaard emphasized the hotel’s longstanding role within the local community, noting its importance not just as a tourist destination but also as a venue for various meetings and conferences.
“It’s a well-run establishment that we have relied on for years to serve tourists, but its roots in the community run deep,” Højgaard explained. “We view this acquisition as a natural extension of our commitment to South Greenland, and we approach it with a profound respect for the efforts made by both Jim Riis and his dedicated team.”
Højgaard further articulated the group’s vision for the property, stating, “Hotel Qaqortoq holds a unique position in South Greenland. Our aim is to preserve its current offerings while also steering its development towards attracting more visitors and drawing attention to the region as a vibrant destination. We plan to leverage our extensive experience in tourism development across Greenland and other scenic locales.”
A Commitment to Regional Growth
The Topaz Explorer Group is already an active player in South Greenland, operating Igaliku Bygdehotel and collaborating with Blue Ice Explorer, which merged with Disko Line in June. The acquisition of Hotel Qaqortoq will further solidify the group’s presence in the region.
“Our goal is to foster broader development within the area,” Højgaard said. “With Blue Ice Explorer, we can build on existing collaborations while uncovering new opportunities for local experiences and partnerships. The city and its surrounding areas boast many exciting attractions, and we look forward to showcasing these to visitors.”
The group aspires to create a sustainable tourism model that not only draws guests but also brings genuine value to the local community. “We’re committed to working in harmony with the city and honoring local initiatives, workplaces, and culture,” Højgaard noted. “Through this collaborative approach, we envision expanding our partnerships with local sheep farmers and others.”
Continuity in Leadership
Christine Lyngholm will continue to oversee day-to-day operations at Hotel Qaqortoq, drawing on her extensive experience to ensure a smooth transition. “Her expertise is invaluable to us,” Højgaard remarked.
Jim Riis, who is stepping back after decades of stewardship, believes now is a propitious time for such a change. “I genuinely hope that the community, businesses, municipality, and partners of Hotel Qaqortoq—especially our valued employees—embrace Topaz,” he said. “I truly believe that the hotel’s next chapter will be managed with greater professionalism under the new ownership.”
Financially, Hotel Qaqortoq reported a gross profit of DKK 17,738,425 for 2024, reflecting a rise from DKK 16,147,027 in 2023, even as the ordinary result after tax saw a decrease from DKK 1,740,546 in 2023 to DKK 297,378 in 2024.
As the transition approaches, all eyes will be on how Topaz Explorer Group enhances the legacy of Hotel Qaqortoq while fostering growth and development in South Greenland.