Two new Scandic Hotels in Trondheim, Norway

Two new Scandic Hotels in Trondheim, Norway Scandic Hotels has just concluded agreements for two new hotels in Trondheim in Norway. The two hotels, the Hotel Residence and Prinsen Hotel both have excellent locations in the centre of Trondheim and will change name to Scandic Hotel Residence and Scandic Hotel Prinsen after the takeover. Scandic already has one hotel in Trondheim on the ring road around the city, about 3 kms from the centre. The Scandic Hotel Residence has 66 rooms and Trondheim's best hotel location on the main square in the city centre. The hotel is easy to reach, both by car and bus, and the majority of Trondheim's attractions are within walking distance. The hotel was renovated at the beginning of this year and is now a high quality hotel with personality and charm. It may also be extended at some point in the future with an additional 60 rooms. Scandic has acquired the operations and entered into a leasing agreement with the property owner. The actual takeover will take place on 1 June 2000. Scandic has also signed a franchise agreement with the owner of the Prinsen Hotel, which will be run under the Scandic brand name, as of 1 October 2000. The hotel has a very good central location - approximately 2 minutes' walk from the main square and the Scandic Hotel Residence. The hotel has 81 rooms, two restaurants and conference facilities for up to almost 400 delegates. "Scandic has needed more inner city hotels in Norway's bigger towns and cities for some time now," says Roland Nilsson, President and CEO of Scandic Hotels. "The two new Scandic hotels are an excellent complement, both to each other and to our existing hotel in Trondheim, at the same time as they offer excellent potential for cooperation in marketing, sales and other areas. Overall, they will give Scandic a total of 301 rooms in Trondheim." Trondheim is the third largest city in Norway and is an important European technology centre. The hotel market has developed positively in Trondheim in recent years, with a healthy growth in demand. For further information, please contact: Roland Nilsson, President & CEO, Scandic Hotels AB +46 8 517 352 00 Ivar Villa, Business Area Manager Norway, Scandic Hotels AB +47 908 55 610 Gunnar Brandberg, Vice President, Marketing & Investor Relations, Scandic Hotels AB +46 8 517 352 12 or +46 709 73 52 12. Scandic Hotels AB is the largest hotel operator in the Nordic region, with 133 hotels in 10 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". [REMOVED GRAPHICS] Scandic Hotels AB (publ) Box 6197, S-102 33 Stockholm, Sweden. Tel: +46 8 517 350 00, Fax: +46 8 517 352 80 E-mail:info@scandic-hotels.com, Homepage: www.scandic-hotels.com Company no.: 556299-1009 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/10/20000410BIT00320/bit0001.doc http://www.bit.se/bitonline/2000/04/10/20000410BIT00320/bit0002.pdf