Scandic continues aggressive Nordic growth strategy

Scandic’s aggressive growth strategy continues, with the chain now announcing its fifth hotel project in seven months. Scandic has signed an agreement to build a new 140-room hotel in Oslo. Work is expected to start during autumn 2008, with completion in January 2010.
Since November 2007 alone, the chain has announced new hotel projects in Norway in Haugesund, Stavanger, Bod¿ and at Gardermoen Airport. Now it’s Oslo’s turn, with a hotel concept in the new Vulkan area which is currently under development. The hotel will be built by Vulkan Eiendom AS, and will involve a total investment of NOK 170 million.

“The Vulkan area represents an innovative, creative and cultural part of Oslo, in which the Mathallen food hall, located in the old Broverkstedet building, the concert venue Vulkan Scene, and the various cultural institutions will be the key elements,” says Scandic’s President and CEO Frank Fiskers. “Scandic is keen to operate in this interaction between culture, design and creativity in a new and different way, and aims for the hotel to act as a future lab, where Scandic, working with other players, will be able to develop the hotel as a trailblazing project and a trendsetter for the whole chain. This will be the sixth hotel in Oslo,” he concludes.

The new hotel, Scandic Vulkan, is located in Vulkan, on the Akerselva river just a stone’s throw from Grünerl¿kka, in an area which is already home to a number of cultural institutions and creative colleges, including Dance House Norway, the Oslo School of Architecture and Design, the art college Kunstfagskolen and Westerdals School of Communication. The hotel will be close to Mathallen, which will be Norway’s first food hall. The hotel will be a modern hotel with 140 rooms, a restaurant and bar, as well as conference facilities.