Scandic delivered a strong second quarter with positive price development and RevPAR that reached a record 828 SEK compared with 749 SEK last year. Occupancy was in line with 2022 at 63 percent.
Stable 4th Quarter Ends a Strong Year
Net sales rose by 60.5 percent to 5,994 MSEK (3,734), corresponding to an increase of 60.5 percent compared to the third quarter 2021.
Average occupancy rate was 39.1 percent compared with 17.5 percent during the first quarter last year.
Scandic Reports Q4 and Full Year 2021 Results
Net sales rose by 79 percent to 3,734 MSEK (2,085). Average occupancy more than doubled, amounting to 55.1 percent compared with 27.1 percent during the previous quarter. The occupancy rate in the corresponding quarter last year was 36 percent.
Scandic’s adjusted EBITDA for the third quarter was 709 MSEK. As a result of strong cash flow, Scandic’s net debt decreased by slightly more than 500 MSEK during the quarter.
Based on current booking trends, Scandic expects occupancy to reach at least 50 percent in September.
Net sales rose by 147 percent to 1 640 MSEK (665). Average occupancy increased to 27.1 percent compared with 17.5 percent during the previous quarter. The rate of increase accelerated at the end of the quarter, with occupancy reaching 35.9 percent in June.