Pandox Asset Management signs first agreement

2 Mar, 2015, 09:04

Today, Pandox’s new asset management company, Pandox Asset Management, has signed an agreement with the Norwegian property company Eiendomsspar AS, which also owns 50% of Pandox AB, to assume the management of the majority of Eiendomsspar’s hotel properties. The commission includes eight hotel properties with a total of 1,500 rooms, all of them in Oslo.

– We look forward to developing a close relationship with Eiendomsspar and to the prestigious assignment to manage and develop their hotel properties. This agreement is part of the company’s new strategy to manage hotel properties for other owners than Pandox and we look forward to finding more opportunities of a similar nature, says Anders Nissen, CEO, Pandox.

The agreement covers the following hotel properties:

Clarion Collection Gabelshus, 114 rooms
Clarion Collection Folketeatret, 160 rooms
Scandic Gardermoen, 135 rooms
Scandic Helsfyr, 253 rooms
Scandic Holberg, 133 rooms
Scandic Holmenkollen Park, 336 rooms
Scandic Oslo City, 175 rooms
Scandic Victoria, 199 rooms

Pandox Asset Management – offer:

Regular updates on market developments
Access to the knowledge and resources of Pandox’s own operations management organisation
Hotel market analysis and property development
Communication and cooperation with the operator as well as negotiations to secure market level agreements
Risk limitation: ability to assume operations and secure the value of the property
Analysis and evaluation of rental incomes. Ensure that quality reports are produced
Production of written plans for operations and maintenance, and full responsibility for their effective execution
Analysis and recommendations of investments aimed to maximise potential while limiting risks

FOR FURTHER INFORMATION, PLEASE CONTACT:

Anders Nissen, CEO Pandox AB
+46 708 46 02 02
anders.nissen@pandox.se

Leif Kristen Olsen, Vice President, Area Manager, Norway and Sweden
+47 909 99 603
leif.kristen.olsen@pandox.se

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