Risk and risk management
All business activities are associated with risks. Risks that are managed well can lead to opportunities and create value, while risks that are not managed properly can lead to damage and losses.
The ability to identify, assess, manage and monitor risks is an important part of the management and control of Scandic’s business operations. The aim is that the Group’s objectives will be achieved through well-considered risk-taking within established limits.
The risk management process includes strategic, operational and financial risks.
Scandic has good underlying risk diversification in the form of a geographically diverse and balanced customer base. The Group operates primarily in the Nordic market through about 280 hotels that serve its main target groups: business and leisure travelers. Of the Group’s revenues, corporate travel accounts for approximately 70 percent and leisure travel for about 30 percent. Scandic is not dependent on a specific industry or a few customers.
Latest press releases
- March 23, 2020 07:30 CET Scandic adapting operations to a temporary period of significantly lower occupancy
- March 16, 2020 19:35 CET Scandic’s Board of Directors proposes to cancel dividend for 2019 in order to improve the financial position
- March 12, 2020 17:15 CET Business situation continues to worsen due to coronavirus – Scandic to give notice of termination
- March 11, 2020 11:30 CET Scandic’s Nomination Committee proposes Kristina Patek as new Board member