SAS to list hotel business

Scandinavian Airline Systems (SAS) intends to list its hotel business, Rezidor SAS Hospitality, on the Stockholm Stock Exchange. The listing will take place within twelve months through an initial public offering (IPO).

“While Rezidor SAS has continued to perform well, the SAS Group’s intention to list the company is in line with the previously stated strategy to focus on its core airline activities.”

“The listing will enable SAS to exit its hotel business, continuing the process initiated last year when Carlson Hotels Worldwide acquired a 25 percent stake in Rezidor SAS from the SAS Group.”

The company said that the IPO would allow Rezidor SAS increased flexibility.

Rezidor SAS includes hotels run under five brands: Radisson SAS, Country Inn, Cerruti, Park Inn and Regent. It currently has 279 hotels in 50 countries worldwide, and employs 4,436 people.