Radisson Blu Hotel Tromsø To Be Acquired By Pandox AB In A Strategic Move To Strengthen The Scandinavian Hospitality Portfolio
Pandox AB, a leading owner and operator of hotel properties, has announced its agreement to acquire the iconic Radisson Blu Hotel Tromsø, located in Northern Norway. This strategic acquisition, valued at approximately MNOK 750, underscores Pandox’s commitment to expanding in one of the most dynamic hotel markets in Scandinavia.
With its prime central location in Tromsø, the hotel is poised to capitalize on the region’s burgeoning tourism and business travel sectors.
The hotel boasts 269 rooms and operates under a revenue-based lease agreement with Radisson Blu, ensuring a stable income stream with a minimum guaranteed level. The funding for the acquisition will come from a mix of existing cash reserves and a freshly secured bank loan, with the deal anticipated to finalize in early 2025.
Tromsø, often referred to as the “Gateway to the Arctic,” has emerged as one of the strongest hotel markets in the Nordic region. The city attracts a diverse range of visitors, from adventure-seeking tourists exploring the Arctic wilderness to business travelers attending conferences and events. In 2023, Tromsø recorded an impressive 860,000 guest nights, with international visitors accounting for nearly half of this figure.