Scandic Hotels Reports Stable First Quarter, Positive Outlook

Scandic Hotels Group announced a stable performance in the first quarter of 2026, marked by a 3.1 percent increase in net sales, reaching SEK 4,689 million. The company indicated a positive outlook with a good booking situation for the upcoming peak travel period.

The average occupancy rate rose to 55.8 percent, and revenue per available room (RevPAR) increased to SEK 665 during the quarter. Operating profit grew to SEK 212 million, up from SEK 194 million in the same period last year. Scandic attributed the performance to high operational efficiency and disciplined cost control, although higher energy costs and the early timing of Easter presented challenges.

Expansion efforts continued with the launch of a Scandic Go hotel in Oslo, Norway. Agreements were also signed for two additional Scandic Go hotels in Norway, located in Stavanger and Tromsø, scheduled to open in 2028. The company also reinforced its sustainability commitment, receiving validation for its climate targets from the Science Based Targets initiative (SBTi).

Looking ahead to the second quarter, Scandic anticipates continued strength driven by leisure travel, stable corporate demand, and a full event calendar. The group currently has 22 hotels in its development pipeline, with eight expected to open in 2026, supporting future growth.