Hilton 'could sell Scandic'
James Savage · 9 Aug 2006, 17:33
Published: 09 Aug 2006 17:33 GMT+02:00
In a press release on Wednesday, the company said it was "exploring strategic alternatives" for the chain. It confirmed that the options include selling all or part of the business.
US-based Hilton Hotels Corporation acquired Scandic as part of its purchase of British company Hilton Group.
Scandic has 130 hotels, mainly in Sweden, Norway, Finland and Denmark.
Robert M. La Forgia, Chief Financial Officer for Hilton Hotels Corporation said:
"Hilton's objective on asset sales is to support our stated strategy of generating a higher proportion of future earnings from managing and franchising hotels and less from hotel ownership."