As he prepares to retire after 10 years running Scandic Hotels Group, president and CEO Frank Fiskers reflects on a busy last 24 months.
COPENHAGEN, Denmark—Frank Fiskers, president and CEO of Scandic Hotels Group, has had an eventful last 24 months.
His firm moved its portfolio to approximately 220 assets, transitioned from a private company to a public one, and Fiskers announced his retirement at the end of July.
Hotel News Now’s interview with Fiskers took place before the 21 June news that Scandic agreed to buy Finnish hotel group Restel for €114.5 million ($127.6 million) in cash and on a cash and debt-free basis. The deal is due to close by the end of the year and add 43 properties to Scandic’s portfolio, 28 of which are in Finland.
Speaking with HNN, Fiskers joked that he had needed to voice his opinions a little less since Scandic became a public company approximately 18 months ago.
Aside from that “inconvenience,” the transition has been a favorable one, Fiskers said.
“One of the biggest changes, I think, has been in interest from external partners and stakeholders. … That is a big advantage for Scandic … but the part that has not changed is our strategy. We have had a strategy of Nordic expansion, we have had a strategy of German expansion,” he said.
Another change has been the opening of regional offices with regional managers.
“We have quite large businesses in each country … so we want really to the best of both worlds. We want to have local management that can see local opportunities, and we want to have corporate guidance so we can get the best out of … economies of scale,” Fiskers added.
For more of Fiskers’ views on his retirement, his legacy and why the Nordics remain a difficult place for those hoping to consolidate, watch the video below: