Pandox AB (publ) signs lease agreements for seven operations hotels in the Nordics with Scandic Hotels
Pandox has signed 20-year revenue-based lease agreements with Scandic Hotels Group for seven hotels in the Nordics currently part of Operator Activities. The takeovers are expected to be completed gradually during the second quarter 2017 and the hotel properties will be reclassified to Property Management at each respective takeover. The lease agreements imply shared investments, lower risk and thereby lower average valuation yield for the hotel properties, and lay the foundations for good growth in rental income and net operating income. Furthermore, Scandic Hotels Group will take over