Scandic Hotels : Positive message for Q3 but more neutral (and less enthusiastic) further out
>Lower margins in Q2, despite widespread price rises - On Friday 14 July, Scandic Hotels reported Q2 top-line growth of 11% y-o-y, but of just 3% l-f-l (positive currency effects contributed +2% over the quarter). Group RevPAR growth was 11% on average on a reported basis and 6.8% l-f-l, with increases across all regions (apart from Norway, which was stable), but above all a notable outperformance vs 2019 levels. Even so, group adjusted EBITDA points to margins down 2...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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