Stockholm-based hotel firm Scandic Hotels Group has secured financing of 7.5 billion Swedish krona ($776 million) in a three-year-long arrangement aimed at continuing its growth strategy.
The new financing came into play on July 2, according to a news release. Norwegian and Finnish banks DNB and Nordea Bank underwrote the financing.
The injection of cash also helps the company’s flexibility, including its operations takeover of Irish firm Dalata Hotel Group, which owns the Maldron and Clayton hotel brands, among other assets.
Scandic's owners, Pandox AB and Oslo-based Eiendomsspar AS, bought Dalata for €1.4 billion in an all-cash deal last summer. As part of that deal, Scandic will now manage Dalata’s 56 hotels and approximately 12,000 rooms.
Following the ownership transfer, Dalata delisted from the Euronext Dublin and London stock exchanges in November 2025.
Scandic's portfolio has more than 320 hotels and 68,000 rooms.
Pär Christiansen, Scandic’s chief financial officer, said the company is “pleased to further strengthen our banking group with additional relationship banks that combine broad international reach with strong local expertise across Scandic’s markets.”
Scandic’s latest addition to its pipeline is a new franchise hotel on the Norwegian coast at Finnsnes, approximately 200 miles north of the Arctic Circle. The hotel is scheduled to open in summer 2028, but no room count has been announced yet.