“We are very happy to sign a new lease agreement with the well-known and highly skilled operator Motel One. The agreement is a result of Pandox's strategy and business model with active work throughout the value chain and confirms the value of the hotel property. The lease is competitive and shows that it is possible to create value even in a tougher market climate. We also warmly welcome Motel One as a new business partner,” says Liia Nõu, CEO of Pandox.

Both the revenue-based rent and the minimum rent are gradually increased over a four-year period. The hotel is leased in current condition, and Motel One bears all costs for the brand change and all opening costs. Pandox's responsibilities include roof, facade and property structure as well as major technical installations.

The hotel property that houses h27 (formerly Hotel Twentyseven) was acquired by Pandox in 2005. Pandox took over the operation of the hotel in April 2020 and began a renovation and repositioning project that was completed in June 2021. The hotel has 200 rooms and will include a restaurant and bar, meeting room and a large outdoor terrace. The hotel is centrally located in Copenhagen with walking distance to, among others, the Central Station, Rådhuspladsen and Strøget.