Back in December of last year, Scandic Hotels acquired all of Restel’s hotel operations, a haul that brought them 43 hotels and roughly 7,600 rooms, most of which fell under the operation of the Cumulus brand. It was this acquisition of Restel that boosted Scandic up to become the market leader for the hotel industry in Finland, also giving the company a considerably stronger position within the growing leisure market there.
The logistical process of rebranding the hotels first began this February, with the company averaging a three rebrandings a week up through its recent completion of these projects. In the wake of it finishing, Scandic’s leadership recently weighed in on the efforts.
What Scandic’s Leadership has to Say
, President & CEO of Scandic Hotels Group, recently had this to say, “We now have a strong presence in Finland, which during the first quarter accounted for a quarter of Scandic’s net sales. We are pleased to have completed the rebranding of Restel’s hotels and we see great potential for revenue synergies when the hotels are fully integrated into our strong distribution system. We estimate that the acquired hotels will start contributing positively to Scandic’s EBITDA during the second quarter.”
While , Managing Director of Scandic Hotels in Finland, had this to add: “Acquiring Restel was the most significant event for Scandic last year and I am extremely proud that our team members have worked so quickly and professionally with the integration. I am also happy that our new team members have been so positive and shown such commitment to Scandic. Thanks to this acquisition, we now have very good geographic reach in Finland, offering our guests the chance to enjoy great hotel experiences in 15 new locations.”
More About Scandic
Scandic is the largest hotel company in the Nordic region with 16,000 team members and a network of around 280 hotels in operation and under development in more than 130 destinations. Scandic Friends is the biggest loyalty program in the Nordic hotel sector. Corporate responsibility has always been a part of Scandic’s DNA and Scandic has been a pioneer when it comes to integrating sustainability in all of its operations. Scandic Hotels is listed on Nasdaq Stockholm.
Scandic Construction Statistics
Let’s take a look at a few other projects currently underway by Scandic Hotels: