A short summary of the most important acquisitions and divestments are presented below.
Pandox acquires seven hotel properties in Germany for MEUR 290. The hotels are full-service hotels in the upper mid-scale segment with an average size of 219 rooms. Furthermore, a hotel in Hannover, Germany, as well as one hotel in The Hague, The Netherlands, are acquired for a total of MEUR 83. Pandox also acquires Hotel Maritim Nürnberg for MEUR 61.
Pandox acquires the upper premium and iconic The Midlands Manchester with 312 rooms for MGBP 102 and the upper mid-scale fullservice hotel Radisson Blu Glasgow with 247 rooms for MGBP 39. Scandic Ferrum in Kiruna is divested for MSEK 286.
Pandox acquires 37 hotel businesses in the UK and Ireland for MGBP 800 in cooperation with Fattal Hotels Group. After a reorganisation, Pandox will retain 21 hotel properties and Fattal Hotels Group will acquire 36 hotel operations. When completed Pandox's share of the total acquisition price is expected to be MGBP 680.
Pandox acquires Hilton London Heathrow Airport T4 for MGBP 80.
Pandox acquires Hotel Berlaymont in Brussels for approximately MEUR 33.
Pandox acquires seven hotel properties, of which four in Germany, two Austria and one in the Netherlands for approximately MSEK 4,100.
Pandox acquires Hilton Grand Place Brussel for MEUR 55.
Pandox divests 8 hotel properties in Sweden for MSEK 850.
Pandox acquires 18 hotel properties in Germany, mainly under the Leonardo brand, for approximately MSEK 3,700. Pandox divests Scandic Antwerpen for MEUR 16.
Pandox divests a portfolio of 14 hotels in Sweden to Fastighets AB Balder and the Hilton Docklands Hotel in London to H.I.G. Capital. Total proceeds from the divestments amounted to approximately MSEK 2,700.
Pandox announces the acquisition of Norgani Hotels, with a portfolio of 72 hotel properties across Sweden, Finland, Norway and Denmark, in a transaction valued at approximately MSEK 10,000. As a result of the acquisition, Pandox becomes one of Europe’s leading hotel property companies.
Pandox continues its international expansion with two hotel acquisitions in Montreal, Canada.
Pandox divests 12 hotel properties to Norgani Hotels.
Pandox is acquired by the industrial investors Eiendomsspar AS and Sundt AS through a public offer. The shares were subsequently de-listed. After the privatisation, Pandox grew in scale as it acquired several large hotels in Berlin, Brussels, Basel, Copenhagen, Stockholm and Malmö.
Pandox expanded its geographical footprint to other parts of Northern Europe through the acquisition of Hotellus, the property owning company of Scandic, with a total of 16 hotel properties.
Read more about Pandox's history