Scandic Hotels is set to open a new property in Stuttgart after signing a long-term lease agreement with investment firm AXA Investment Managers to take over an existing hotel in the city.
The 174-room hotel in central Stuttgart is expected to open under the Scandic brand in Q4 next year following a “significant” renovation. Operations will also be certified by the Nordic Swan Ecolabel, which includes criteria such as the absence of single-use disposables, reduced water consumption, a ‘climate-friendly’ menu and a focus on reducing food waste.
Located next to the city’s central train station, the hotel will offer new dining options, meeting facilities and a gym.
The Stuttgart property will be the group’s eighth in Germany, following hotels in Munich, Berlin, Hamburg, Frankfurt and Nuremberg.
Scandic Hotels Group president and CEO, Jens Mathiesen, said: “The expansion will strengthen Scandic’s presence in the German hotel market in an important financial centre where we see growing demand from both business and leisure travellers. I’m also delighted that we’ve signed a long-term lease agreement with AXA Investment Managers, a new partner for Scandic.”
The Swedish hotel group has 280 properties in operation and under development across Sweden, Norway, Finland and Denmark as well as in Poland and Germany.