Strong sports event summer could lift Pandox and the hotel market

Nordic — Pandox and the hotel market as a whole had a positive development during the first quarter of the year and there is hope for an even stronger lift in the summer when both the Euros in Germany and the Olympics in Paris will contribute to increased activity on the market. Here, Pandox CEO Liia Nõu tells us more about the company's development and future prospects, and industry expert Thomas Emanuel reports on the situation in the European hotel market, which has now, among other things, recovered past the levels that prevailed before the pandemic.

Pandox signs lease agreement for hotel property in central Copenhagen

Denmark Denmark — During the ongoing renovation and repositioning of Hotel Mayfair in central Copenhagen, Pandox has signed a lease agreement with the operator Strawberry and the Hobo brand. Pandox continues to run the day-to-day hotel operations until the renovation project has been completed and the new lease comes into force, which is expected to take place in the second half of 2024. The new lease is revenue-based with an indexed, guaranteed minimum level, and long term.

Pandox Acquires Hotel in United Kingdom

Sweden Sweden — Pandox has acquired and gained access to The Queens Hotel in central Leeds, UK. The acquisition includes both the hotel property and the hotel operations.

Pandox Signs a New Lease Agreement with Citybox

Nordic — Pandox has signed a lease agreement with the Norwegian operator Citybox Hotels for the current NH Brussels Louise, which Pandox acquired earlier in 2022.

Pandox to Remain Net Buyer

Nordic — Recently, Pandox has both acquired and divested hotel properties outside of the Nordics. After the two transactions, CEO Liia Nõu tells Nordic Property News about the deals, the company remaining a net buyer and about her view of the hotel market at the moment.

Pandox Divests in Montreal

Nordic — Pandox enters into an agreement to sell InterContinental Montreal.

Pandox Enters into Agreement Regarding a Hotel Property in Brussels

Sweden Sweden — Pandox AB (publ) has entered into an agreement to acquire NH Brussels Louise in central Brussels, Belgium. The hotel has 246 rooms and is owned and operated by the largest Spanish hotel chain NH Hotel Group. The agreement supports NH Hotel Group’s strategy revision in Brussels where Pandox is a key partner. The total transaction value amounts to approximately MEUR 35 and is financed by cash and existing credit facilities.

Pandox and Scandic Extend Lease Agreements for 15 Hotel Properties in the Nordics

Nordic — Pandox and Scandic Hotels have entered into an agreement on the extension of leases for 15 hotel properties and a congress center. The leases are revenue-based with a contractual minimum level and with a tenure between 12–20 years. The parties also undertake to jointly invest approximately MSEK 700 in the hotel properties over a multi-year period.

Pandox Signs Lease Agreement in Copenhagen

Denmark Denmark — Pandox has signed a new lease agreement for h27 in central Copenhagen with the operator Motel One. The lease is revenue-based with a minimum guaranteed rent and a tenor of 20 years.

How Pandox Will Carry on Anders Nissen's Legacy

Sweden Sweden — Pandox has appointed Liia Nõu as permanent CEO of the company. She tells Nordic Property News about her new position, how the company will carry on the legacy of Anders Nissen and about the market situation after an 18-month long pandemic.

Liia Nõu Appointed New CEO of Pandox

Sweden Sweden — Pandox's board of directors has appointed Liia Nõu as CEO. Liia Nõu has been Pandox’s CFO since 2007 and acting CEO since 21 May 2021.