Skanska Builds New JW Marriott Hotel in Nashville, USA, for USD 153M, about SEK 1.3 Billion

Regulatory News:

Skanska (STO:SKAB)

Skanska has signed a contract with Eighth and Demonbreun Hotel to manage the construction of its new JW Marriott Hotel in Nashville, USA. The contract is worth USD 153M, about SEK 1.3 billion, which will be included in the order bookings for Skanska USA Building in the second quarter 2016.

The new 75,000-square-meter, 33-story luxury hotel will include 533 guest rooms and suites; 3,500 square meter of ballroom and meeting spaces; four food and beverage outlets, including a 250-seat restaurant, 200-seat rooftop specialty restaurant, lobby bar and coffee shop; and a below-grade parking garage.

The hotel will be located on the southwest corner of the intersection of Eighth Avenue South and Demonbreun Street in the city’s SoBro District.

Construction started in June 2016 and is slated for completion in June 2018.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2015 revenues were SEK 54.5 billion.

The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totaled SEK 155 billion.

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