Pandox owns and operates sizeable full-service hotels with strategic locations in significant markets and has a large numbers of partners, such as tenants, suppliers and investors. Pandox has a long-term perspective on business, and endeavours to achieve long-term partnerships. At the end of 2017 the average remaining lease term in Property Management was 15.6 years.
By showing respect for good business ethics and sound business practices, Pandox wants to contribute to a sustainable society in which businesses take economic, social and environmental responsibility.
Pandox expects its business partners to respect its values and ambitions regarding sustainable business.
In 2016 a Code of Conduct for business partners was formulated. The Code is based on Pandox’s five focus areas for sustainability and the ten principles of the UN Global Compact (www.unglobalcompact.org), and describes the expectations Pandox has of its business partners (suppliers, contractors, consultants and service partners). At the end of 2017 around 75 percent of Pandox’s business partners had approved the Code of Conduct. Since autumn 2016 the Code has been included in the documentation when Pandox enters into or renews agreements. In Pandox’s largest business segment, Property Management, we intensified our collaboration on sustainability matters with some of our largest tenants in 2017.