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Scandic posts upbeat annual figures

11 February 2009 Press Release Hotel News

Swedish midmarket chain Scandic Hotels has defied the softening market by posting an upbeat set of figures, including gross profit rising to Eur 311 million in 2008 from Eur 276 million a year earlier.Revenues were also on the rise, up 5% to Eur 758.5 million for 2008 from Eur 720 million for 2007, as occupancy levels remained stable (64.9% in 2008 verses 65.6% in 2007). Meanwhile in 2008 the mid-budget chain also opened six new hotels, bringing its total to number of hotels to 138.

Scandic enters Russia

16 January 2008 Press Release Hotel News

In partnership with IKEA, Scandic is planning to build a new 300-room hotel in Khimki Business Park in Moscow.