November 22, 2000 -- HVS International -- Scandic Hotels has signed an agreement for the sale of five former Provobis hotels. Elite Hotels of Sweden is to acquire three hotels located in Jonkoping, Vaxjo and Lulea. Meanwhile, MJN Hostell is to acquire the Grand Hotel in Halmstad and the Hotel Galaxen in Borlange.
Together the hotels have a combined room count of 622 rooms. The sales price was not disclosed. Proceeds from the sale will be used to reduce the goodwill created through Scandic's acquisition of Provobis.
The other 12 Provobis properties have all now been rebranded as the Scandic brand and fully integrated into Scandic's sales, marketing and operating systems.
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HVS in 2000: Celebrating 20 Years of Valued Hospitality Consulting Service
This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
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