Scandic, Nordic chain that was in the 2000’s for few years part of Hilton, today made an announcement that they would purchase all the Restel’s hotels (Finnish hotel chain).
Restel currently has 43 hotels in Finland mainly under Cumulus brand, although they also have hotels under IHG flags such as Holiday Inn, Indigo and Crowne Plaza.
Here’s an excerpt from Reuters (access the entire piece here):
Restel’s hotel operation, which it runs mainly under the Cumulus brand, had sales of around 203 million euros last year.
Scandic currently has 28 hotels in Finland and 230 in total, mainly in the Nordic region.
This deal will give us presence in 15 new locations in Finland and greater exposure in the growing leisure segment,” Aki Kayhko, managing director of Scandic Hotels Finland, said in a statement.
Not huge fan on Scandic. Their hotels tend to be bit too basic to my taste but good fit with this Finnish “Cumulus”. I just hope that they don’t terminate their agreement with IHG.
How many IHG hotels can you find in Sweden, Norway and Denmark compared to Finland? There’s one Crowne Plaza in Copenhagen….