Pandox enters into franchise agreement with IHG in Lübeck, Germany

Pandox has entered into a franchise agreement with IHG’s Holiday Inn brand for Pandox hotels in Lübeck. At the same time, an agreement has been entered into with Scandic AB concerning not extending current rental agreements. When the hotel business is taken over by Pandox, investments and upgrades worth EUR 2.5 million will take place.

“Running hotels in our owned properties is part of the Pandox business model and active ownership. This agreement will allow us to intensify our partnership with IHG, with which we will be running five hotels,” says Anders Nissen, CEO of Pandox.

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Pandox is one of Europe's leading players within the hotel property market regarding geographic spread, number of hotels, brands and size. The portfolio consists of 116 hotels, one congress and fair centre and eleven operational units, with a total of 24,000 rooms located in Sweden, Finland, Norway, Denmark, Germany, Belgium, Great Britain, Switzerland, the Bahamas and Canada. Pandox' hotels operate through various different lease structures under well-known brands such as Scandic, Hilton, InterContinental, Hyatt, Radisson Blu, Crowne Plaza, Holiday Inn, Clarion, Comfort, Quality, Elite, First, Rica, Park Inn, Best Western, Rantasipi and Omena, or through independent distribution channels. Pandox AB is owned by Eiendomsspar AS and Sundt AS