Scandic Hotels Group AB (OSTO:SHOT)
kr 68.15 0 (0%) Market Cap: 14.87 Bil Enterprise Value: 58.60 Bil PE Ratio: 26.94 PB Ratio: 4.12 GF Score: 52/100
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Q2 2021 Scandic Hotels Group AB Earnings Call Transcript

Jul 16, 2021 / 07:00AM GMT
Release Date Price: kr35.89 (+5.56%)
Operator

Ladies and gentlemen, welcome to the Scandic Hotels Group Audiocast Teleconference Q2 2021. Today, I'm pleased to present President and CEO, Jens Mathiesen; and CFO, Jan Johansson. (Operator Instructions) Please note this call is being recorded.

Speakers, please begin your meeting.

Jens Mathiesen;publ;President;CEO
Scandic Hotels Group AB

()-&

Thank you very much and good morning, everyone. This is Jens Mathiesen speaking. Thank you for joining this presentation of our second quarter report.

As you all may recall, we published a market update only 1 month ago where we said that we expected occupancy to be at least 35% in June and that we expected July to be better than July last year. We can now, in this call, confirm that we have seen improved demand in all our markets during the second quarter and also that the increase accelerated towards the end of the quarter. So after a very weak start to the year, our occupancy was around 20% in April, 25% in May and it ended at around 60 -- 36% in

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