Pandox acquires hotel in the UK for MGBP 40
Pandox AB (publ) has acquired and gained access to a hotel property including hotel operations in central Bath, Great Britain. The hotel has 176 rooms and will be operated under a new management agreement with Axiom Hospitality, subject to a franchise under the DoubleTree by Hilton brand. The total acquisition price amounts to approximately MGBP 40 and will initially be financed by cash and existing credit facilities."We are pleased to make this acquisition. The UK is a priority market for us and a hotel in Bath provides exposure to an attractive tourist destination that ranks as a top