Pandox takes over operations at two hotels in Copenhagen

Pandox is increasing the number of hotels under its own operations and is today taking over operative responsibility for the 223 room Omena Hotel Copenhagen in central Copenhagen. In December 2013, Pandox also took over operations at First Copenhagen, a 215 room conference hotel located between the city and the airport. Both the hotels will be run under franchise agreements with the current operators.

- A logical aspect of Pandox' active ownership strategy is to operate hotels ourselves. This can happen when it is commercially impossible to continue with the current operator or when a hotel is in need of a major renovation. We believe the outlook for the Copenhagen market looks positive and we will immediately start developing the businesses and improve profitability at both the hotels, says Anders Nissen, CEO at Pandox.

Pandox is one of the leading hotel property companies in Europe with business in ten countries. The portfolio consists of 120 hotel properties and one congress center. Including the Copenhagen additions, Pandox currently runs 16 hotels, with a total of nearly 5 000 rooms and an annual turnover of approximately SEK 1.4 billion, under its own operations. The hotels are located in Antwerp, Berlin, Brussels, Copenhagen, Helsinki, Montreal and the Bahamas.

Pandox philosophy, when running hotels under its own operations, is to build strategy and competence locally for each hotel.

For more information, please contact:

Anders Nissen                    
CEO, Pandox AB                 
+46 (0)708 46 02 02
anders.nissen@pandox.com