New hotel in the Netherlands for Scandic Hotels

New hotel in the Netherlands for Scandic Hotels Scandic Hotels have signed a management agreement with Thermae Development Company B.V. concerning the operation of the Hotel Sanadome in Nijmegen, one of the major cities in The Netherlands. The agreement will come into effect immediately. During the first half of year 2000, the hotel will undergo extensive refurbishment. The hotel will be rebranded as Scandic Hotel Sanadome Nijmegen in June 2000 and thus be fully integrated with Scandic Hotels' marketing and sales systems. The hotel is strategically located in a park area close to the Nijmegen City center and nearby the main gateways to the major destinations in Holland and Germany. It offers 85 guestrooms, conference as well as leisure facilities. The management agreement means that Scandic is running the hotel on a commission basis, and is not investing in the actual property, inventory or operations, which, in turn, means that Scandic's bottom line will be positively affected from day 1. "The Hotel Sanadome is an excellent complement to Scandic in the Benelux region", says Business Area Manager, Bas Tolmeijer. "The hotel reflects Scandic's image and concept, both in terms of the environment and in combining business and leisure." Apart from the new hotel, Scandic operates three other hotels in the Benelux; Holiday Inn Soestduinen Royal Parc, Holiday Inn Antwerp-Borgerhout and Scandic Hotel Grand Place Brussels. Scandic also recently signed an agreement regarding Hotel Albert Premier in Brussels, which is due to come into effect on 31 December 1999. On December 1 this year, Scandic will open yet another hotel in the Benelux region, namely Holiday Inn IJmuiden, in the Netherlands. For further information, please contact: Gunnar Brandberg, Vice President Marketing & Investor Relations@ + 46-8-517 352 12 or +46-709-73 52 12 Leif T Carlsson, President, Scandic Hotels Europe AB, @ +46-8-517 352 03 Bas Tolmeijer, Business Area Manager, Scandic Hotels Benelux @ +31-26-442 75 62 Scandic Hotels is the largest hotel operator in the Nordic region, with 132 hotels in 10 countries of which 110 are in the Nordic region. Scandic's strategy is to be a dedicated hotel operator. Its business concept is "to offer many people the highest value for money when staying in its hotels, during work and leisure". [REMOVED GRAPHICS] Scandic Hotels AB (publ) Box 6197, SE-102 33 Stockholm, Sweden Tel: +46 (0)8 517 350 00. Fax: +46 (0)8 517 352 80. E-mail: info@scandic-hotels.com, Internet: www.scandic-hotels.com Org. no.: 556299-1009 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/04/19991104BIT00590/bit0001.doc http://www.bit.se/bitonline/1999/11/04/19991104BIT00590/bit0002.pdf