Scandic to divest one hotel in Pori

Today, Scandic has signed an agreement to divest the hotel operations of Cumulus Pori in Pori, Finland to Rauman Hovi OY. The operation of the hotel, which has 111 rooms, will be taken over by the buyer on October 1, 2018.

–  We are happy that Rauman Hovi OY will take over the operations of Cumulus Pori and we are confident that they will operate and develop the hotel in the best way possible, says Aki Käyhkö, Managing Director of Scandic Hotels Finland.

The reason for the disposal is that the decision by the Finnish Competition and Consumer Authority to approve Scandic’s acquisition of Restel’s hotel operations was subject to the divestment of one hotel in Lahti, one in Pori and one in Kuopio. Scandic expects to sell the remaining two hotels during the second half of 2018.

The selling price amounts to approximately 10 MSEK and the transaction is not expected to give rise to any significant effect on earnings.

For more information, please contact:

Henrik Vikström, Director Investor Relations, Scandic Hotels Group
Email: henrik.vikstrom@scandichotels.com
Phone: +46 70 952 80 06