Read the latest CEO comments from the interim reports here.
The first quarter developed in line with Pandox’s expectations, following the same pattern as the previous quarter. Extensive restrictions in all of Pandox’s markets resulted in demand for hotel rooms remaining very low
The hotel market weakened again in the fourth quarter due to increased virus transmission and new restrictions. Overall, Pandox’s total revenue and net operating income both decreased in the quarter by 53 percent respectively compared with the corresponding period the previous year
The hotel market in the third quarter recovered in line with Pandox’s expectations. The summer season was actually stronger than expected, driven by good domestic demand in the leisure segment in regional cities in all countries
