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Scandic Hotels Group AB ( (SE:SHOT) ) has shared an update.
Scandic Hotels Group AB has taken over the operational responsibility for Dalata Hotel Group’s 56 hotels under a management agreement, following the acquisition by Pandox AB and Eiendomsspar AS. This strategic move enhances Scandic’s presence in the UK and Ireland, with the transaction expected to be value-accretive. The carve-out process to separate Dalata’s real estate from hotel operations is underway, with Scandic planning to acquire the hotel operations for EUR 500 million, financed through cash and debt facilities.
The most recent analyst rating on (SE:SHOT) stock is a Hold with a SEK95.00 price target. To see the full list of analyst forecasts on Scandic Hotels Group AB stock, see the SE:SHOT Stock Forecast page.
More about Scandic Hotels Group AB
Scandic Hotels Group is the largest hotel company in the Nordic countries, operating around 280 hotels with 58,000 rooms across more than 130 destinations. Known for its commitment to sustainability and accessibility, Scandic’s Design for All concept and Scandic Friends loyalty program are highly regarded. The company is listed on Nasdaq Stockholm and is a leading employer in the region.
Average Trading Volume: 418,878
Technical Sentiment Signal: Buy
Current Market Cap: SEK20.36B
For an in-depth examination of SHOT stock, go to TipRanks’ Overview page.