Pandox AB (publ) has completed previously announced acquisition of hotel portfolio in the UK and Ireland
Pandox’s acquisition of the hotel portfolio in the UK and Ireland, which was announced 13 December 2017, has been completed.
The total acquisition price amounts to MGBP 800, corresponding to approximately MSEK 9 030. After reorganisation of the portfolio Pandox’s share of the total acquisition price is expected to amount to MGBP 680, corresponding to approximately MSEK 7 680. Of the acquired hotel properties, 20 are consolidated and reported under the business segment Property Management and one is consolidated and reported under the business segment Operator Activities as of 20 December 2017.
For more information about the acquisition, please see the press release dated 13 December 2017 when the acquisition was announced.
FOR MORE INFORMATION, PLEASE CONTACT:
Anders Nissen, VD, +46 (0) 708 46 02 02
Liia Nõu, CFO, +46 (0) 702 37 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, 20 December 2017, 14:00 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 143 hotels with approximately 31,500 hotel rooms in fifteen 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 listed on Nasdaq Stockholm. www.pandox.se