in the span of three years the newly formed company, Steen & Strøm Invest, became the country's largest holder of commercial real estate. The expansion lasted until 1996 when Stordalen had a falling out with the largest shareholder, Stein Erik Hagen, and was asked to leave his position as CEO. Hotels After leaving Steen & Strøm Invest, Stordalen struck out on his own teaming up with investor Christen Sveaas. In October 1996 the duo bought 68 percent of the shares in the Scandinavian operations of Choice Hotels for NOK 100 million. At the time the chain consisted of 8 hotels across Scandinavia. Following the acquisition Stordalen started his expansion, following the same model as in Steen & Strøm Invest, buying Swedish hotel chain Home as well as Norwegian hotel company InterNor, and taking Choice Hotels Scandinavia public. During a three-year period Choice Hotels Scandinavia bought, on average, a new hotel every other week and added 50 people to the payroll every 10 days. In December 1997 Sveaas sold his 37 percent share of the now 77 hotels. In 1999 Christian Ringnes and his company Eiendomsspar acquired a 35 percent share in Choice Hotels Scandinavia. After a short power struggle, Ringnes folded and Stordalen cemented his control over the company. The same year Stordalen also saw the acquisition of several Swedish and Danish hotels, including the Danish hotel company Nordisk Hotel Group, Stenungsbaden Yacht Club and Stockholm Globe Hotel. At the turn of the millennium, at age 37, Stordalen became a billionaire(in Norwegian krone). In 2012 Stordalen opened his biggest hotel to date, the 500-room, Clarion Post Hotel in Gothenburg, Sweden. At the opening 10,000 Gothenburgers were gathered to watch a light-and-fireworks display that included Stordalen ascending from the top of the hotel playing the drums inside a disco ball. In 2022, Stordalen opened the 231-room, art-deco Somerro Hotel in Oslo, built from the 1930s office that previously belonged to Oslo Lysverker - the city's electrical company. The hotel is the first in Oslo to feature a rooftop pool and terrace, and is situated in Frogner, one of Oslo's oldest neighborhoods. The hotel also features a cinema, multiple restaurants and bars, a library, and a sauna. From public to private company In 2000 Stordalen formed the company Home Invest, consisting of the properties previously owned by Choice Hotels Scandinavia. The company went public, but was delisted in 2001. In 2003 Choice