March 01, 2015 7:34 PM ET

Hotels, Restaurants and Leisure

Company Overview of Scandic Hotels AB

Company Overview

Scandic Hotels AB owns and operates a chain of hotels in Sweden and internationally. Its amenities and facilities include rooms; a restaurant and bar; spaces for meetings and conferences; a gym; and a spa. Scandic Hotels AB was formerly known as Esso Motor Hotel and changed its name to Scandic Hotels AB in January 1984. The company was founded in 1963 and is based in Stockholm, Sweden. Scandic Hotels AB operates as a subsidiary of Scandic Hotels Holding AB.

Sveavägen 167

P.O. Box 6197

Stockholm,  102 33

Sweden

Founded in 1963

Phone:

46 8 51 73 50 00

Fax:

46 8 51 73 50 11

Key Executives for Scandic Hotels AB

Chief Executive Officer, President and Director
Age: 53
Chief Financial Officer and Senior Vice President of Finance
Age: 55
Chief Operating Officer
Senior Vice President and Country Vice President of Sweden
Age: 49
Managing Director of Finland
Compensation as of Fiscal Year 2014.

Scandic Hotels AB Key Developments

Scandic Hotels Appoints Thomas Engelhart as Chief Commercial Officer and Head of All Commercial Functions and Member of Executive Committee, Effective August 5, 2015

Scandic Hotels announced the appointment of Thomas Engelhart as Chief Commercial Officer and head of all commercial functions. Thomas has previously been at Scandic when he from 2007-2011 had the position of head of commercial functions. Thomas Engelhart will start in his new role August 5th, 2015. In this role he will be a member of the Executive Committee and report to President & CEO Frank Fiskers.

EQT Reportedly Plans Scandic IPO

EQT Partners AB is planning a stock market listing for Scandic Hotels AB, which could be worth more than €1 billion including debt, two people familiar with the matter said. EQT has invited banks to compete for roles in the initial public offering (IPO), they said. The people, who declined to be identified because the plans are not public, said a listing of Scandic Hotels, the largest hotel chain in the Nordic region, could take place this year. According to Reuters, Scandic declined to comment. EQT, which owns 78% of Scandic, could not be immediately reached for comment. Scandic had revenue of €913 million in 2013 and earnings before interest, tax, amortisation and depreciation (EBITDA) of €80 million. Those figures don't include Scandic's acquisition of Norway's Rica Hotels from the Rivelsrud family this year with 72 hotels, taking Scandic's total number of hotels to 223.

Scandic Hotels AB Announces Earnings Results for the First Half Ended June 2013

Scandic Hotels AB announced earnings results for the first half ended June 2013. For the period, the company reported revenues of EUR 448.6 million compared with EUR 443.6 million for the same period a year ago. EBITDAR was EUR 140.3 million compared with EUR 140.0 million for the same period a year ago. EBITDA was EUR 27.6 million compared with EUR 32.6 million for the same period a year ago. Adjusted EBITDA was EUR 29.3 million compared with EUR 36.5 million for the same period a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 18, 2014
Scandic Neptun, Scandic Bergen City and Scandic Strand
Merger/Acquisition
June 16, 2014
Hotel ALSTERHOF Berlin GmbH
 

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