Scandic Hotels 'Stronger Than Ever' With $50m Profit in Third Quarter

Scandic Hotels Group has posted its third-quarter results today, with a $49.9 million net profit (559 Swedish krona) and a level of indebtedness that continues to shrink.

"We have delivered another record-breaking quarter and Scandic is standing stronger than ever. Scandic is continuing to make progress in increasing growth and has gradually become a more efficient and profitable company," said president and CEO Jens Mathiesen.

Scandic operates 55,969 rooms across 269 hotels in the Nordics and wi