Pandox AB (publ) is evaluating the possibilities for acquisition of a hotel portfolio in London
Following questions from the media, Pandox confirms that the company has entered a negotiating phase concerning the possibilities for acquisition of a hotel portfolio in London, UK, with a corresponding value of approximately MSEK 3,000. Pandox would like to emphasise that current negotiations may not necessarily lead to an agreement, and that it is not certain that the transaction will be successfully concluded.
Our business model is integrated and sustainable and is based on property management, property development and continuous optimisation of the portfolio, which together contribute to increased cash flows, higher property values and a good return on invested capital. Through acquisitions, we can grow earnings short term and add new developable hotel properties for increased value creation long term.
More information will be provided when deemed appropriate or when an obligation arises.
FOR MORE INFORMATION, PLEASE CONTACT:
Liia Nõu, CEO, +46 (8) 506 205 50
Anneli Lindblom, CFO, +46 (0) 765 93 84 00
Anders Berg, SVP Head of Communications and IR, +46 (0) 760 95 19 40
This information is information that Pandox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 15 August 2024 at 07:00 CEST.
About Pandox
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 157 hotels with approximately 35,000 hotel rooms in 12 countries. Pandox’s business is organised into Leases, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Own Operations, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se