Scandic Hotels Bolsters Nordics Strategy With $127 Million Finnish Acquisition


Skift Take

It’s a relatively small deal from one of Europe’s smallest hotel companies but Scandic’s acquisition of Restel will certainly help shore up its position in the Nordics market.

Scandic Hotels Group is to add another 43 hotels to its portfolio with the $127 million purchase of Finland-based Restel’s hotel operations. Once the deal closes, Scandic will have 273 hotels and 49,200 rooms, putting it a long way behind the likes of Intercontinental Hotels Group and AccorHotels who dominate the overall European