Scandic Hotels to open in Cologne

Scandic Hotels to open in Cologne Scandic Hotels is continuing to develop a presence in Europe's major cities, and has today signed a leasing contract concerning the operations of a new hotel with an excellent location right in the city centre of Cologne in Germany. The hotel will have 292 rooms, conference premises, restaurants and relaxation facilities. Cologne is the third largest and one of the fastest growing cities in Germany and an attractive destination for business and leisure travellers alike. Colgne is also one of Europe's most important communication hubs for travel both by train and by air, with two international airports in the area. Together with its neighbours Düsseldorf and Bonn, the area constitutes the biggest hotel market in Germany. These factors combined make Cologne an ideal location for Scandic Hotels. "The hotel will be operated under the Scandic brand and will also be incorporated into the full range of Scandic's sales and marketing programmes," says Ola Ivarsson, Business Area Manager for Scandics non- Nordic markets. "This establishment is a very important step for our continuing growth in Germany, and strategically in line with our policy of establishment in the more important cities in Europe," The new hotel will have an excellent location in the very city centre, at the central station, with the commercial district, shopping areas and restaurants right by the hotel. 10 million people live within a 60 minute drive radius of Cologne, and a massive 20 million live within a 90 minute radius. The hotel is scheduled to open the autumn of 2001. It is currently an office building and will be undergoing a comprehensive renovation process, with the architecture based on the Functionalist style. It will also be fully compliant with Scandic's environmental standards. For additional information, please contact: Roland Nilsson, President & CEO, tel.+46 8 517 352 00 Ola Ivarsson, Business Area Manager Europe tel: +46 8 517 350 29, +46 709 735 209 Gunnar Brandberg, Vice President Marketing & Investor Relations, tel: +46 8 517 352 12 or : +46 709 73 52 12. Scandic Hotels is the Nordic region's leading hotel company with 133 hotels in 10 countries. Scandic's strategy is to be dedicated hotel operator and its business mission is to "offer many people the highest value for money when staying in its hotels, during work and leisure." ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/27/20000127BIT00450/bit0001.doc http://www.bit.se/bitonline/2000/01/27/20000127BIT00450/bit0002.pdf