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Scandic Hotels Group AB ( (SE:SHOT) ) has shared an update.
Scandic Hotels Group AB has announced the opening of its third hotel in central Hamburg, Germany, as part of a long-term lease agreement. This expansion is part of a broader strategy to increase its room portfolio by 15,000 by 2030, focusing on key German destinations. The new hotel, expected to open in 2028, will be strategically located near Hamburg’s central train station, enhancing Scandic’s presence in one of Europe’s dynamic cities. This move aligns with Scandic’s goal of responsible expansion and strengthens its position in the German market, targeting both business and leisure travelers.
The most recent analyst rating on (SE:SHOT) stock is a Hold with a SEK86.00 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 AB is the largest hotel company in the Nordics, operating approximately 280 hotels with 58,000 rooms across more than 130 destinations. The company emphasizes sustainability and accessibility, with a notable loyalty program in the Nordic hospitality industry. Scandic is listed on Nasdaq Stockholm.
Average Trading Volume: 304,759
Technical Sentiment Signal: Buy
Current Market Cap: SEK18.48B
For a thorough assessment of SHOT stock, go to TipRanks’ Stock Analysis page.