Our strategy

We want to continue to grow. Scandic has a leading market position in the Nordic region with wide geographic presence. We need to continue to manage our portfolio wisely, while preparing for continued expansion. This means optimizing our existing hotels (for example, by improving use of space), strengthening the resilience of our business model, increasing the efficiency of ongoing investments and ensuring growth in strategic growth areas outside the Nordic region.

Our revenues were more than halved during the first year of the pandemic. And although the market has recovered, we still have some way to go before we return to the levels that prevailed before the pandemic.

Market demand recovered in 2023, although some segments, such as international group and business travel, may recover more slowly. This is why we need to work even smarter and find new ways to surpass market performance. We can do this, for example, by improving distribution, building a stronger brand, increasing customer loyalty and sharpening our customer focus throughout the guest journey.

Having strong operations will give us the power to invest. We have a long-term margin target of at least 11 percent. This is crucial to enable us to reinvest in our hotels and secure growth over time. Once the pandemic ends, we will need to restore our margins and continue to strive for higher profitability. We are not aiming for short-term cost reductions. Instead, we want to create long-term sustainable margins by improving the way we work and in particular, benefit from digitalization and economies of scale.