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Scandic Hotels Group AB ( (SE:SHOT) ) has provided an update.
Scandic Hotels Group has announced plans to open a new 236-room hotel in downtown Uppsala in collaboration with landlord Vasakronan. This development is part of Scandic’s strategy to expand in key Nordic markets, leveraging Uppsala’s status as Sweden’s fourth-largest hotel market and its proximity to Stockholm and Arlanda Airport. The hotel will feature modern amenities, including a gym, bar, restaurant, and flexible meeting spaces, and will be sustainability-certified. The project aims to enhance Scandic’s presence in the region and cater to both business and leisure travelers.
The most recent analyst rating on (SE:SHOT) stock is a Hold with a SEK83.00 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. The company is recognized for its sustainability efforts and its Design for All concept, ensuring accessibility for all guests. Scandic is also known for its extensive loyalty program, Scandic Friends, and is listed on Nasdaq Stockholm.
YTD Price Performance: 10.87%
Average Trading Volume: 367,602
Current Market Cap: SEK16.1B
For detailed information about SHOT stock, go to TipRanks’ Stock Analysis page.