Scandic comments on market situation and ongoing rent negotiations
In December, Scandic’s average occupancy rate was approximately 15 percent with continued weak demand in all markets. Ongoing rent negotiations have thus far led to agreements for rent reductions and offers from landlords totaling approximately 850 MSEK.In December, Scandic’s average occupancy rate totaled 15 percent, which means that occupancy for the fourth quarter was approximately 23 percent, in line with the company's forecast from December 8. Demand has continued to be weak in all markets and has been impacted by stricter restrictions from authorities. About half of Scandic's hotels