Pandox acquires seven hotel properties in Germany for MEUR 290
Pandox AB (publ) has entered into an agreement to acquire seven hotel properties with a total of 1,532 rooms in Germany from HR Group. The total transaction value amounts to approximately MEUR 290, excluding minority. The acquisition is expected to be financed by liquid funds and new bank loans. The hotels will continue to be managed by HR Group under fixed leases with indexation, which will be converted into revenue-based leases by 2024 at the latest. The hotels are expected to contribute approximately MEUR 16.5 in rental income and MEUR 16.4 in net operating income, on an annualised basis.