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Pandox leases hotel property in Norway to strong local operator

Pandox and the Norwegian hotel operator Frich's have signed a long-term revenue-based lease agreement with good minimum levels for a hotel property in Ringsaker, Norway. Frich's has a strong local presence, which in combination with a thorough renovation and product development for the hotel will strengthen its market position and increase the property value.

1 November 2023

Tobias Ekman, Head of Property Management Nordics på Pandox

"We look forward to welcoming Frich's as a new tenant for our hotel property in Ringsaker. Frich's is a strong local operator with good market knowledge, which will bring new energy into the hotel product in an attractive local market. We will now jointly carry out an extensive renovation project of rooms and public areas, including a new and attractive food and beverage concept, which will strengthen the hotel's market position and increase the value of the hotel property"

Øyvind Frich, founder and owner of Frich's

"We are very happy and proud of the trust and opportunity that Pandox has given Frich's. We look forward to welcoming local, regional and international guests to our newly renovated hotel in the spring 2024. The Norwegian Innlandet (inner country) is an exciting market with many opportunities. The new Frich's Hotel Hamar is located close to important larger cities as well as the Norwegian capital. The hotel is easily accessible from Oslo Airport Gardermoen via good roads and frequent bus and train connections. Frich's Hotel Hamar will strengthen the chain's position. The goal is to become the preferred choice for training courses, conferences and the holiday and leisure market in the Inland region"

The hotel property is currently leased to Scandic under the name Scandic Ringsaker. After the renovation is completed, the hotel will open in the spring 2024 as Frich's Hotel Hamar. The hotel has 176 rooms and is located north of Hamar, only a 1.5-hour drive from Oslo.