Skanska to build Marriott hotel in Stockholm for SEK 410 M

Skanska has been contracted to build a Marriott hotel on Kungsholmen in central Stockholm. The contract amount is approximately SEK 410 M, which is included in order bookings for the fourth quarter 2007.

The client is the Norwegian company Faktor Eiendom, which will own the hotel property through a fully-owned subsidiary. The hotel will be operated by Scandinavian Hospitality Group and will be designed as a business hotel under the name Courtyard by Marriott Stockholm-Kungsholmen.

Construction will commence in November and the hotel with 272 rooms will receive its first guests in November 2009. The contract is conditional on receipt of the required permits.

The hotel is being built in the Snöflingan block at Lindhagensplan where Skanska is also developing and constructing a residential project with 340 apartments. Skanska is also decking over the Drottningsholmsvägen street that will create an esplanade character to the area.

Skanska Sweden focuses on construction of residential, public and commercial premises as well as the infrastructure throughout Sweden. The business unit has about 11,000 employees and reported revenues in 2006 of about SEK 24 billion. In Sweden, Skanska is also active in the development of residential and commercial properties.




For further information please contact:

Hans Johansson, Business Developer, Skanska Sweden,
tel +46 70 520 36 39.
Peter Gimbe, Group Press Officer, Skanska AB, tel +46 8 753 88 38. Direct line for media: +46 8 753 88 99.
Harald Jacobsen, Scandinavian Hospitality Group, tel +47 90 829 801.