Pandox has completed previously announced acquisition of three hotel properties in Germany

Pandox AB (publ) has completed the acquisition of three hotel properties in Germany, which was announced 18 June 2019.

The hotels’ expected contribution to rental income and net operating income 2019 have been adjusted to approximately MEUR 6.0 and MEUR 5.8 respectively, on an annualised basis.

The hotel properties are reported in the business segment Property Management per 1 July 2019. For more information about the acquired hotel properties, please see the press release from 18 June 2019 when the acquisition was announced.

FOR MORE INFORMATION, PLEASE CONTACT:

Anders Nissen, CEO, +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, through the agency of the contact persons set out above, at 16:20 CEST on 1 July 2019.
  

About Pandox
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 comprises 147 hotels with approximately 32,800 hotel rooms in 15 countries. Pandox’s business is organised into Property management, which comprises hotel properties leased on a long-term basis to market leading 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 listed on Nasdaq Stockholm. www.pandox.se

Tags: