Pandox has acquired three aparthotels in central London for MGBP 230
Pandox AB (publ) has completed the acquisition of three aparthotels with a total of 503 rooms in central London. Total transaction value amounts to approximately MGBP 230. Initially, the hotels are expected to contribute approximately MGBP 34 in revenues and approximately MGBP 17 in net operating income, on an annualised basis. The hotels are branded Residence Inn by Marriott and are operated by Axiom Hospitality under a management agreement. The acquisition is financed by available cash funds and a new green bank loan. “We are happy to have acquired three well-positioned freehold