Pandox enters talks for €260m London hotel portfolio
International news
Swedish hotel property group, Pandox, has confirmed speculation that it has entered a negotiation phase to potentially acquire a hotel portfolio in London for approximately €260m (£222m). However, the group has stressed that current negotiations “may not necessarily” lead to an agreement, and that it is not certain that the transaction will be successfully concluded.
In a statement, a spokesperson said: “Our business model is integrated and sustainable and is based on property management, property development and continuous optimisation of the portfolio, which together contribute to increased cash flows, higher property values and a good return on invested capital.”
The group will release more information “when deemed appropriate or when an obligation arises”.
Founded in 1995, Pandox owns a hotel portfolio of 157 hotels with roughly 35,000 hotel rooms in 12 countries. The group’s presence is mainly in Northern Europe, with a focus on sizable hotels in key leisure and corporate destinations.