Pension Danmark invests in another property. The purchase concerns a property where Comwell operates a hotel in Kolding. The seller is Comwell and the transaction price is MDKK 475 (EUR 64M). Pension Danmark has already invested in the Comwell hotels in Roskilde and Holte.
Comwell in Kolding has 180 rooms and has planned an extension of 120 rooms in a 15 storey high hotel tower to meet the demand of both conference guests and individual hotel guests. The existing rooms are being renovated while the restaurant and conference facilities are expanded and a new auditorium is expected to be built. Enlargement is expected to become DGNB Sustainability Certified in the Gold category. For the purpose of expansion, Comwell has acquired a neighboring property of the Region of Southern Denmark, which is also taken over by Pension Danmark.
"We are pleased with this investment, which is our fourth in a hotel property with a fifth on its way. In Comwell, we have a solid tenant who, along with his long-term hotel management strategy, fits with the fact that Pension Danmark has to provide good pensions for many years in the future. With its scenic location overlooking the Kolding city and fjord hotel tower, this modern hotel is an attractive location for both overnight and conference purposes. We look forward to the investment that will give our members a good and stable return for a number of years," says CEO Torben Möger Pedersen, Pension Danmark.
"We have been operating conference hotel in Kolding for more than 30 years. The hotel is recognized for both the high quality, location and facilities and is in many ways one of Comwell's spearheads. We look forward to upgrading and expanding the hotel, as demand for meetings and conferences in the region is growing in these years. So we look forward to initiation, so we can accept even more hotel and conference guests. With Pension Danmark as future owner, we look forward to a continued positive development of the hotel," says Peter Schelde, CEO of Comwell Hotels.
Pension Danmark Makes New Hotel Investment
Denmark — With an investment of MDKK 475 (EUR 64M). In Comwell Kolding, Pension Danmark can now add its third Comwell property to the portfolio.