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Scandic Hotels Group AB ( (SE:SHOT) ) has issued an update.
Scandic Hotels Group has opened its first franchise hotel in Florø, Norway, marking a significant step in its growth strategy which emphasizes expanding through franchise hotels. This move strengthens Scandic’s presence in western Norway and aligns with its plan to add 10,000 new rooms by 2030, half of which will be under the Scandic Go brand. The partnership with the Helle family aims to enhance the guest experience and solidify Scandic’s position as a leading hotel company in the Nordics. This expansion is part of Scandic’s broader strategy to grow its portfolio and provide more options for guests, contributing to its ambitious growth targets.
The most recent analyst rating on (SE:SHOT) stock is a Hold with a SEK89.00 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 is recognized for its commitment to sustainability and accessibility, featuring the award-winning Design for All concept. Scandic also boasts the largest loyalty program in the Nordic hospitality industry and is considered one of the most attractive employers in the region. It is publicly listed on Nasdaq Stockholm.
YTD Price Performance: 37.58%
Average Trading Volume: 789,052
Technical Sentiment Signal: Buy
Current Market Cap: SEK19.71B
For an in-depth examination of SHOT stock, go to TipRanks’ Overview page.