Scandic to Acquire Restel’s Hotel Portfolio in Finland for EUR 114.5 Million

Scandic Hotels | June 21, 2017

Scandic Hotels Group ("Scandic") has signed an agreement to acquire Restel's hotel operations in Finland. Through the acquisition, Scandic will strengthen its position as the leading hotel company in the Nordic countries and become the largest hotel operator in Finland. The transaction subject to regulatory approval. Today, Scandic has 230 hotels in operation and under development, 28 of which are in Finland. Restel's portfolio includes 43 hotels in Finland. Following the acquisition, Scandic will have a nationwide hotel coverage in Finland. – This is an important step forward for Scandic Hotels and one that will...