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ARTICLES TAGGED WITH "Pandox"

Pandox acquires hotel property in Tromsø

Norway — Pandox has entered into an agreement to acquire Radisson Blu Hotel Tromsø in Norway for EUR 64 million.

Liia Nõu: "You never know what the future will look like"

Nordic — Pandox's CEO, Liia Nõu, made it clear at the presentation of the latest quarterly report that they are looking for acquisitions, mainly within the three strong markets they are already doing best in: Great Britain, the Nordics and Germany. "The latest acquisition had a seven percent yield, so that's what we're aiming for", says the Pandox CEO.

Pandox acquires a hotel in Edinburgh from Starwood

Nordic — Pandox has entered into an agreement to acquire DoubleTree by Hilton Edinburgh City Centre in central Edinburgh, UK, from Starwood. The hotel will be operated under a management agreement with Axiom Hospitality. The total transaction value amounts to approximately MGBP 49 and is expected to be financed by available cash funds and a new bank loan.

Pandox completes London acquisition

Nordic — Pandox has acquired three aparthotels in central London for MGBP 230.

Pandox is evaluating the possibilities for acquisition of a hotel portfolio in London

Nordic — Following questions from the media, Pandox confirms that the company has entered a negotiating phase concerning the possibilities for acquisition of a hotel portfolio in London, UK, with a corresponding value of approximately MSEK 3,000. Pandox would like to emphasise that current negotiations may not necessarily lead to an agreement, and that it is not certain that the transaction will be successfully concluded.

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 sells in Canada

Nordic — Pandox has entered into an agreement to divest Doubletree by Hilton Montreal in Canada. The sale includes both the hotel property and hotel operations with a total transaction price of approximately MCAD 80 (EUR 51 million). The closing is planned to take place in the second quarter of 2024.

Pandox signs new lease agreement for Hotel Pomander in Nuremberg

Nordic — Pandox has signed a new lease with Scandic Hotels Group for Hotel Pomander in Nuremberg, Germany. The lease is revenue-based with a guaranteed minimum level and long term. The agreement comes into force on 1 March 2024.

Geopolitical tension and it's effect on investments in the hotel market

Nordic — Where does the hotel capital come from and how does it move in the global market? When the JLL manager summarize how geopolitics affects how capital moves, there are a number of different markets to keep an eye on.

Pandox leases hotel property in Norway to strong local operator

Norway — Pandox and the Norwegian hotel operator Frich's have signed a long-term revenue-based lease agreement with good minimum levels for a hotel property in Ringsaker, Norway.

"In general the recovery has been strong for the Danish hotel market"

Denmark — On Monday, Pandox announced a deal with Strawberry for the operation of Hotell Mayfair in Copenhagen. Jonas Törner, Chief Commercial Officer at Pandox says that the development in the Danish capital has been fantastic and that there are opportunities going forward to sharpen the portfolio structure. At the same time, they will increase discipline in the investment calculations in order to adapt to the new economic conditions.

Pandox signs lease agreement for hotel property in central Copenhagen

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 Stockholm Hotel for SEK 400 Million

Sweden — Pandox has acquired and gained access to Best Western Hotel Fridhemsplan in central Stockholm. The hotel property has 221 rooms and is operated under a fixed lease with a private operator.

Pandox Acquires Hotel in United Kingdom

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 — 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 Appoints New CFO

Sweden — Anneli Lindblom will assume the role as new CFO of Pandox on 1 December 2021. She has extensive experience from publicly listed companies both in the role as CFO and board member.

Pandox Signs Lease Agreement in Copenhagen

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 — 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 — 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.

Pandox’s CEO Anders Nissen Has Passed Away

Sweden — Pandox's CEO Anders Nissen has passed away after a short period of illness.

Anders Nissen Has Acquired Synthetic Options from Pandox’s Main Shareholders

Sweden — Pandox’s CEO Anders Nissen has acquired synthetic options in Pandox issued by the larger shareholders Eiendomsspar AS, CGS Holding AS and Helene Sundt AS.