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Scandic to exit hotel business in Estonia

THIS PUBLICATION HAS 9 COMMENTS
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How can this report speculate on the sale price and also publish it.
If you do then make something real, come on get a life or review your report first.

the scandic palace hotel is around 5500 Sq Metres. please remember it is finished and fitted also.

I believe the sales price of the hotel property,name and fitting etc would be around 10 to 13million euros.

as it certainly needs a renovation and update.

the sales price would depend upon on the EDITA results of course as well.

The balance sheet value is so low as they have been depreciation the value of the building, fitting etc over the last 12yrs. Reply to the comment answer
~tallinnhotels [20.02.2013, 10:19]
Property under the building is just over 1,100 sqm, but hotel floor area is indeed five times that.

As for the purchase price, it remains speculation, especially since both hotels hae been losing money for several years.
~Toomas [20.02.2013, 11:07]
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i think 10 to 13million euros is not just somewhat more than 3,1million euros.

Its a lot,lot, lot more Reply to the comment answer
~tallinnhotels [20.02.2013, 10:22]
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How it is possible that Scandic is Finnish hotel operator??? Reply to the comment answer
~Pekka [20.02.2013, 10:47]
And where does it say it is owned by Finns.
~get some glasses [20.02.2013, 16:47]
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Pekka, thanks for pointing out the obvious. I think the real owner of Scandic is Hilton. Reply to the comment answer
~Toomas [20.02.2013, 11:03]
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is it not swedish ? Reply to the comment answer
~info [20.02.2013, 13:06]
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In 2001, Scandic was acquired by the London-based Hilton Group. The hotel chain changed ownership again in 2007, this time bought by Swedish private equity firm EQT for EUR 833 million. Reply to the comment answer
~Correct [20.02.2013, 18:09]
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I remember back in 2001 when Hilton bought Scandic which then owned Karupesa Hotel in Otepää (now owned by Veerpalu's family), there was a popular joke about Hilton's plans to rebrand it to Hilton Karupesa. For those unfamiliar with Estonian, Karupesa means Bear's den or something. Reply to the comment answer
~Toomas [20.02.2013, 18:14]
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