Scandic Hotels : A solid operational performance in 2023, but few catalysts in the short/medium term. Underperform maintained, target price raised to SEK 37
>Full-year results reflect a slight deceleration in Q4 - Scandic Hotels has reported earnings that were broadly in line with forecasts. However, the figures represent a slight deceleration in growth in Q4 with RevPAR up 5.6% vs 6.6% in Q3, which benefited from strong leisure demand, unlike in Q4 which was fuelled by business demand that is still recovering. Group revenue was therefore up slightly over the quarter, by just 3.5% y-o-y (5.2% in Q3) and EBITDA was more o...Scandic Hotels Group AB is a Sweden-based company engaged, along with its subsidiaries, in the operation of hotels. The Company's main market in which the Group operates in: Sweden, which includes Swedish hotels that are operated under the Scandic brand; Norway, which includes Norwegian hotels that are operated under the Scandic brand, and Other Nordic countries & segments include hotel operation in Belgium, Denmark, Finland, the Netherlands, Poland and Germany, as well as the hotel concept HTL, which is operated by the sub-group HTL Hotels. The Company operates a network of approximately 224 hotels and almost 42,000 hotel rooms in seven countries. Scandic Hotels Group AB is a wholly owned subsidiary of Sunstorm Holding AB.
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