Scandic sells hotel business in Malmö's Concert Hall

Scandic sells hotel business in Malmö's Concert Hall Scandic Hotels AB has decided to sell the business operations of Scandic Hotel Konserthuset, situated in Malmö in the south of Sweden. The hotel, which has 154 rooms, is being bought by Home Hotel i Malmö AB, a part of Choice Hotels A/S, which will take over the business with effect from 1 March 1999. The hotel property is owned by Swedish insurance company Skandia. Scandic's Malmö operations will now concentrate on its centrally located hotels: Scandic Hotel Triangeln, Scandic Hotel St. Jörgen and Scandic Hotel in Segevång. For further information, please contact: Scandic Hotels AB, Lars Sjölander, Business Area Manager, Sweden, @ +46 (0)8 517 350 00 Scandic Hotels AB, Jan Kvistrum, Operative Manager, @ +46 (0)8 517 350 00 Gunnar Brandberg, Vice President, Marketing & Investor Relations, @ +46 (0)8 517 352 12 Scandic Hotels is the largest hotel operator in the Nordic region, with 124 hotels in 9 countries. Scandic's strategy is to be a dedicated hotel operator. Its business mission is "to offer many people the highest value for money when staying in its hotels, during work and leisure". 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 Scandic Hotels AB (publ) www.scandic-hotels.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/24/19990224BIT00020/bit0001.doc http://www.bit.se/bitonline/1999/02/24/19990224BIT00020/bit0002.pdf