For the first time since 2001, Scandic, now a freestanding independent company, is publicly reporting the company’s financial performance. Total revenues increased by 10.3% to €720.5m
Profits increased by 19% and reached a record €102.9m
Key performance indicators on sustainability continues to improve significantly
Since October 2007, Scandic has signed on 11 new hotels with a total of 2,500 rooms
Frank Fiskers, Scandic’s President & CEO comments on the 2007 year-end results were:
“Scandic did very well in 2007 and we are proud to publicly report, for the first time since 2001, our financial performance. Both in terms of turnover and profits it was a record year for Scandic. The increased demand for hotel rooms resulted in higher room rates, which significantly drove RevPAR. Development throughout the year was strong in all of our markets, especially in the larger cities.
We are also pleased with the continuous positive development of our sustainability indicators – solidifying our leading position in this important area. Scandic will continue our focus on growth, and after having signed 11 new hotels since October of last year, we strongly believe in our plan of having 200 hotels in operation and under development by the end of 2011.”
Other key figures are presented in the enclosed pdf.
For further information, please contact:
Frank Fiskers, President & CEO, Scandic, tel.: +46 709 73 52 03
Lars Axelson, Senior Vice President Finance & CFO, Scandic, tel.: +46 709 73 52 67
Martina Tengvall, Director Corporate Communications, tel.: +46 709 73 50 70
Scandic is the leading hotel chain in the Nordics and with 141 hotels in operation and under development, consequently one of the largest hotel operators in Europe. With a keen focus on growth, we are actively pursuing opportunities to expand our network. A stay at Scandic is a step towards a more sustainable future − for our society and our environment. Nordic common sense. www.scandichotels.com