Scandic back in Swedish hands

Scandic, the Nordic region's largest hotel chain, is back in Swedish hands after being bought from Hilton Hotels by private equity company EQT for 7.7 billion kronor.

Scandic was bought in 2001 by Hilton Group, a United Kingdom-based company. The Scandinavian chain was put up for sale last year, shortly after the British group re-merged with American Hilton Hotels Corporation.

EQT, part-owned by the Wallenberg family, said it plans to expand the Scandic chain.

“The plan is mainly for organic growth, meaning that we will establish more hotels in markets where demand exists,” said Johan Hähnel, communications director at EQT.