Scandic Hotels : Q4 very deteriorated, in theory. Reduce maintained
>Occupancy rate of 23% in Q4 - On Friday, Scandic announced a group occupancy rate of 23% for Q4, i.e. the high end of the guidance range presented at the publication of Q3 earnings at the beginning of November. This level of occupancy remains very low and has steadily declined throughout the quarter (33% in October, 20% in November and 15% in December). Activity in December suffered from the closure of the network over the festive season due to the resurgence of the ...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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