Scandic Hotels reports increased revenue and record results in Q3

Scandic Hotels Group reported a 7.9 percent increase in third-quarter revenue, reaching 6,877 million Swedish kronor, compared to 6,372 million Swedish kronor in the same period last year. Organic growth was recorded at 4.5 percent. Adjusted EBITDA rose from 1,088 million to 1,330 million Swedish kronor, with margins increasing from 17 to 19 percent.

Key performance indicators showed an average occupancy rate of 75.5 percent, up from 74.2 percent the previous year. Revenue per available room (RevPAR) increased by 7 percent to 1,031 Swedish kronor. Free cash flow also saw a significant rise, reaching 945 million Swedish kronor compared to 593 million Swedish kronor in the prior year.

CEO Jens Mathiesen attributed the growth to high market demand and operational efficiency. The group also completed the acquisition of Dalata Hotel Group for approximately 500 million euros, a move intended to strengthen its European presence. Additionally, Scandic has entered into new hotel agreements in Freiburg, Frankfurt, and Stockholm, and established a strategic partnership with Hilton for hotel development and operations in the Nordics.