PANDOX ACQUIRES THE HOTEL PROPERTY RADISSON SAS HOTEL IN MALMÖ

 
Pandox acquires the hotel property Radisson SAS Hotel in Malmö, Sweden, from Wihlborgs Fastigheter AB and will take over the business on 1 September 2006. The acquisition price is MSEK 260.
 
Radisson SAS Hotel Malmö is one of the leading business hotels in southern Sweden and has an excellent location in central Malmö close to the business and shopping districts and is easily reached by public transport. The hotel product includes 229 hotel rooms of international standard, 12 conference rooms, relax centre, and restaurant.
 
Malmö's hotel market is part of the dynamic Öresund region that is one of the strongest hotel markets in Scandinavia. Pandox owns since earlier Scandic S:t Jörgen and Scandic Kramer in Malmö, Scandic Star in Lund, as well as Scandic Copenhagen and Copenhagen Hotel 27 in Copenhagen.
 
"Pandox strengthens its position as the leading hotel property company in the Öresund region. After the acquisition of Radisson SAS Hotel Malmö Pandox now owns five hotels with more than 1,500 rooms in the area, of which Copenhagen Hotel 27 under own management," says Anders Nissen. 
 
--------------       
 
For further information, please contact:
 
Anders Nissen, CEO Pandox AB, +46 8 506 205 50
 
Pandox is one of Europe's leading players in the hotel property market. The portfolio consists of 39 hotels, including one asset management assignment and six operations, with a total of approximately 8,880 rooms located in Sweden, Denmark, Germany, Belgium, United Kingdom, Switzerland and the Bahamas. Pandox' hotels are operated in different forms under well-known brands such as Scandic, Hilton, Radisson SAS, Crowne Plaza, Choice or through independent distribution channels.