Frank Fiskers becomes partner of a London-based hotel real estate investment firm.
• Swedish charter sales booming
Scandic, the Nordic region's largest hotel chain, said Monday its chief executive officer Frank Fiskers is stepping down after three years as he enters his new role as partner of a London-based hotel real estate investment firm.
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“He rapidly implemented post-Hilton strategies, built up a new and strong management team, and steered Scandic successfully through the downturn in the economy”, Vagn Sørensen, Chairman of Scandic, said in a statement.
In 2007 Swedish private equity firm EQT acquired Scandic from Hilton Hotel Corporation for 833 million euro, kicking off an European expansion with new hotels in Germany and Poland. The company today has 151 hotels in ten countries.
The hotel chain will now start the process to find a new CEO. Frank Fiskers will stay on until after the summer. He will also join the Board of Directors, the company said.
Last Updated (Monday, 18 April 2011 12:08)