Q1 2021 Scandic Hotels Group AB Earnings Call Transcript
Ladies and gentlemen, welcome to Scandic Hotel Group Q1 Report 2021. (Operator Instructions). Please note that this call is being recorded. Today, I'm pleased to present Jens Mathiesen, President and CEO; and Jan Johansson, CFO.
I'll now hand the call over to Jens Mathiesen. Please begin.
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Thank you very much, operator, and good morning, everyone, and thank you for joining this presentation of Scandic's first quarter result. I'm here together with our CFO, Jan Johansson; and our Head of Investor Relations, Henrik Vikstrom. Please turn to Page 2, where I will start going through a brief summary.
As you all know, this was another quarter where the pandemic had a huge impact on hotel demand. Scandic's average occupancy rate was 7.5%. We expect markets to recover soon, driven by domestic leisure when restrictions are eased as more people get vaccinated.
As we have communicated before, we expect occupancy to exceed last year
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