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Pori, Finland Pori, Finland

Scandic completes acquisition of Restel

On December 29, 2017, Scandic completed the acquisition of Restel’s hotel operations in Finland to the divestment of one hotel in Lahti, one in Pori and one in Kuopio.

Scandic sees good opportunities for sales growth and margin improvement in the acquired hotel portfolio in the coming years. The company sees potential for increasing revenue through rebranding the hotels under the Scandic name and expanding Scandic’s offering in the Finnish market. Additionally, costs are expected to decrease through coordinated administration and procurement.

Overall, Scandic estimates that over time, excluding the three hotels that will be divested, the acquired operations have the potential to generate an adjusted earnings before interest, taxes, depreciation and amortization margin higher than the group’s long-term financial target of 11 percent.