The hotel, originally built in 1887 by Carl Kämp, was designed by Theodor Höijer. The building was demolished and the facade was rebuilt in 1965. The headquarters of the bank Kansallis-Osake-Pankki (now part of Nordea) were situated in the building for almost three decades, until 1995.
A major restoration project, started in 1996, culminated in the reopening of Hotel Kämp in 1999 as part of The Luxury Collection. A shopping centre, Kämp Galleria [fi], was also opened within the same city block. Another major renovation will begin in Q4 2023, to be finished by the end of 2025; the hotel will remain operational throughout this period.[2]