Pandox to establish Asset Management division
The Pandox Group continues to expand. The company is currently strengthening its offering by adding a new business area, introducing the new division, Pandox Asset Management. The mission for this new business area is to efficiently manage hotel properties on behalf of external property owners.
During 2014, Pandox already established the new operating company, Pandox Operations, with the mission to run hotels owned by Pandox and external owners.
These developments to the Pandox business model should be seen as part of the ongoing changes within the hotel industry and reflect the significant changes that the global hotel industry has seen over the last 15 years. A majority of international hotel companies have become pure brand companies, whilst traditional hotel companies with a focus on operations have become less and less common. Another increasing trend that is gaining momentum is the consolidation that is taking place among operating companies – large grows larger.
– The hotel market has become more demanding for the property owners. There are fewer operating companies at the same time as operations have become more complex. This has added to an increased reliance that hotel property owners have to put on the few remaining operating companies. It is necessary for the hotel property owners to meet this challenge proactively. By using Pandox Asset Management, other property owners can share in Pandox’s broad experience as an active hotel property owner, says Anders Nissen.
For more information, please contact:
CEO, Pandox AB
+46 (0)708 46 02 02