Pandox AB (publ) has completed reclassifications and acquisition
Pandox has now completed the reclassification of seven hotel properties in the Nordics and the acquisition of Silken Berlaymont in Brussels, in accordance with previous communication.
The reclassifications follow from the lease agreements entered by Pandox with Scandic Hotels Group, which were communicated in a press release on 18 January 2017. The date of reclassification of each hotel property is stated below.
|Hotel||Date||No. of rooms||From||To|
|Scandic Prince Philip||1 June 2017||208||Operator Activities||Property Management|
|Scandic Hafjell||1 June 2017||210||Operator Activities||Property Management|
|Scandic Lillehammer||1 May 2017||303||Operator Activities||Property Management|
|Scandic Sluseholmen||11 April 2017||215||Operator Activities||Property Management|
||11 April 2017||149||Operator Activities||Property Management|
|Scandic Valdres||4 April 2017||139||Operator Activities||Property Management|
|Scandic Sørlandet||4 April 2017||210||Operator Activities||Property Management|
The agreement of operation of Grand Hotel Oslo with 274 rooms, which Pandox has operated without its own property ownership, ended on 25 April 2017.
Moreover, the acquisition of Silken Berlaymont with 212 rooms in Brussels has been completed in accordance with the press release on 7 April 2017. The hotel is now operated under the independent brand Hotel Berlaymont and is reported under the business segment Operator Activities as of 29 May 2017.
For more information please see the respective press release.
FOR MORE INFORMATION, PLEASE CONTACT:
Anders Nissen, VD, +46 (0) 708 46 02 02
Liia Nõu, CFO, +46 (0) 702 37 44 04
Anders Berg, Head of Communications and IR, +46 (0) 760 95 19 40
The information was submitted for publication at 13:00 CEST on 1 June 2017.
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 121 hotels with more than 26,000 hotel rooms in ten countries. Pandox’s business is organised into Property management, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Operator activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are, as of 18 June 2015, listed on Nasdaq Stockholm. www.pandox.se