Sweden: Nordic hotel operator Scandic Hotels Group has signed a lease agreement with hotel owner Pandox to open the second Scandic Go property in Stockholm next year.
Scandic Go is described as a “smart urban hotel concept” with the debut property set to open this September in Upplandsgatan, Stockholm.
The second hotel in the brand portfolio will be located on the island of Kungsholmen in Fridhemsplan, also in Stockholm. Pandox acquired the property – the Best Western Fidhemsplan – in February 2023. It will continue to be operated under a fixed lease with the current operator before it closes for renovation.
Pandox will oversee the technical upgrade of the 221-room hotel, which will be certified according to BREEAM and Nordic Swan Ecolabel standards. It is expected to open at the end of summer 2024.
Liia Nõu, CEO of Pandox, said: “It’s exciting for Pandox to be part of Scandic’s expansion in the economy segment with this new attractive lease in Stockholm. We acquired the hotel property in February this year with a clear vision for how it could be developed. The agreement with Scandic demonstrates that we have a unique business model where, together with strong partners, we can create value in both hotel operations and hotel properties.”
Jens Mathiesen, president and CEO of Scandic Hotels Group, said: “We are extremely happy to be opening our first hotel on Kungsholmen. With compact hotel rooms and space-efficient shared spaces, the property and hotel configuration are very much aligned with our new Scandic Go concept and our aim to continue developing in the fast-growing economy segment. By expanding Scandic Go, we will continue to strengthen our hotel and product offering in Stockholm while ramping up our efforts to assume a leading role and develop the segment in the Nordic region.”
