Scandic Hotels has entered into an agreement to acquire Rica Hotels for an undisclosed price. The deal adds 72 Rica hotels to Scandic's existing portfolio, further strengthening its position in the Nordic region.
In Norway alone, Scandic's coverage will be increased by 65 hotels.
"With the acquisition of Rica, we will rise to a new level in the Nordic hotel sector," said Frank Fiskers, president & CEO of Scandic (right in picture). "We will strengthen our portfolio with 72 highly regarded Rica hotels in attractive locations, and our guests will soon be able to choose from 223 hotels throughout the Nordic region. We expect to host 25,000 guests every single day, and 13,000 skilled and motivated team members will do their very best to give our guests a pleasant and memorable stay."
Today, Scandic has 151 hotels in the Nordic region, including 19 in Norway, while Rica Hotels' portfolio currently includes 65 hotels in Norway and seven in Sweden.
"We've found an excellent home and partner for the Rica hotels and Rica employees," said Rica founder Jan E. Rivelsrud (left, in picture). "Together, I am convinced that our companies will form an even more inviting presence in the Nordic region, with a solid basis for continued growth and a commitment to the further development of tourism in our markets. Rica and Scandic complement each other geographically and culturally, and will together provide our guests with a larger and even more attractive offering. Rica's attractive market position in Norway complements, Scandic's overall position in the Nordic region. All Rica and Scandic team members take great pride in providing superb hospitality and dedicate themselves each and every day to giving their guests the most enjoyable hotel experience possible."
The Rivelsrud family, which currently owns Rica Hotels, will continue its involvement in the hotel sector through Rica Eiendom Holding. This company owns 20 of the hotel properties in the Rica Hotels portfolio, which will continue to be operated with Scandic as leaseholder.
"This is a strategically important and forward-looking move," says Svein Arild Steen- Mevold, Country VP of Scandic in Norway. "Combining with Rica will create a truly nationwide chain in Norway and increase our presence in Sweden. We look forward to continuing to the development of our business and creating an even better guest experience in years to come", Mr Steen-Mevold continues.