Scandic to Open New Scandic Go Economy Hotel in Growing Tromsø Market

Scandic Hotels Group AB ( (SE:SHOT) ) has provided an update.

Scandic Hotels Group is expanding its presence in Norway with a new Scandic Go hotel in central Tromsø, its second under the economy brand in the country, under a long-term lease with property owner Nordlyskvartalet AS. The approximately 170-room new-build, scheduled to start construction after summer 2026 and open in 2028 as part of a mixed-use development, will make Tromsø the first non-capital city to host all three of Scandic’s brands, reinforcing the group’s push into the fast-growing economy segment and consolidating its position in a destination with strong tourism growth. Designed for modern, price-conscious travelers with self-service, 24/7 street‑food‑inspired offerings and practical amenities, the hotel will follow Scandic’s sustainability profile by targeting Nordic Swan Ecolabel certification and prioritizing recycled materials, signaling continued investment in environmentally responsible growth and a deeper, long-term commitment to the Tromsø market alongside its existing Scandic Ishavshotel and The Dock 69°39 by Scandic.

The most recent analyst rating on (SE:SHOT) stock is a Buy with a SEK101.00 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 region, operating around 280 hotels with 58,000 rooms across more than 130 destinations. The company focuses on full-service and economy hotel offerings, emphasizes sustainability through initiatives such as Nordic Swan Ecolabel certifications and its Design for All accessibility concept, and runs Scandic Friends, the Nordic hotel industry’s largest loyalty program. Scandic is listed on Nasdaq Stockholm and is considered one of the region’s most attractive employers.

Average Trading Volume: 896,228

Technical Sentiment Signal: Buy

Current Market Cap: SEK20.51B

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