Pandox AB (publ) has completed acquisition of a hotel portfolio in Europe
Pandox’s acquisition of a hotel portfolio in Europe, which was announced 18 November 2016, has been completed.
Final acquisition price amounts to MEUR 415, corresponding to approximately MSEK 4,100. The acquired hotels are consolidated and reported under the business segment Property Management as of 19 December, 2016. Pandox’s hotel property portfolio thereby comprises 120 hotels with 26,240 rooms in ten countries.
For more information about the acquisition, please see the press release dated 18 November 2016, where the acquisition was announced.
FOR MORE INFORMATION, PLEASE CONTACT:
Anders Nissen, CEO, +46 (0)70 846 02 02
Liia Nõu, CFO, +46 (0)70 237 44 04
Anders Berg, Head of Communications and IR, +46 (0) 760 95 19 40
The information was submitted for publication, through the agency of the contact persons set out above, 19 December 2016, 17:35 CET.
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio comprises 120 hotels with more than 26,000 hotel rooms in ten countries. Pandox’s business is organised into Property Management, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Operator Activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are, as of 18 June 2015, listed on Nasdaq Stockholm. www.pandox.se