Pandox and Scandic extend lease agreements for 15 hotel properties in the Nordics
Pandox AB (publ) and Scandic Hotels have entered into an agreement on the extension of leases for 15 hotel properties and a congress center. The leases are revenue-based with a contractual minimum level and with a tenure between 12–20 years. The parties also undertake to jointly invest approximately MSEK 700 in the hotel properties over a multi-year period.The portfolio consists of 15 hotel properties, of which 12 in Sweden, two in Finland and one in Norway. The total number of rooms amounts to approximately 3,600. In addition, the lease extension includes Marina Congress Center in Helsinki,