Financial overview 2010
Property revenues and cash flow
Pandox’ property revenues pro forma 2010 amounts to SEK 1,7 bn and cash flow from ongoing operations amounts to more than SEK 700 m. The value of the hotel property portfolio is estimated to about SEK 22 bn.
Acquisitions during the year
During 2010 Pandox, together with its owners Eiendomsspar AS och Sundt AS, acquired Norgani Hotels AS, a portfolio consisting 73 hotel properties and one conference centre located in Sweden, Finland, Norway and Denmark with a total of 12 900 rooms. During the year Pandox also acquired Brussels Hilton in Brussels with 432 rooms and Park Inn Solna, outside Stockholm, with 247 rooms.