Pandox and Elite renew the leases on two hotels

Pandox and Elite Hotels have renewed and extended the leases on the Park Avenue Hotel in Gothenburg and Stora Hotellet in Jönköping. The agreements, both of which have a duration of 15 years, include a development and upgrade program for the two hotels of an estimated SEK 90 million in total, where Pandox’s share is slightly more than half."The two hotels have good locations in good markets, resulting in high interest from both guests and potential operators who wish to run the hotels," notes Erik Hvesser, Vice President and Area Manager Sweden & Finland at Pandox. "Elite Hotels has