Pandox: Pandox divests seven hotel properties in Denmark and Sweden for MSEK 2,100

In Denmark, Motel One Copenhagen, Scandic Sluseholmen, Scandic Glostrup, Scandic Hvidovre and Scandic Kolding with a total of 928 rooms are divested. The underlying property value, before deduction of deferred tax, amounts to MDKK 1,155 million, corresponding to approximately MSEK 1,700. The buyer is a company jointly owned by Alma Property Partners and Midstar AB. After the divestment, Pandox will own three hotel properties with 912 rooms in Denmark, all of them in strong city-centre locations in central Copenhagen.

In Sweden, Scandic Hallandia in Halmstad and Scandic Kalmar Väst in Kalmar with a total of 320 rooms are divested. The underlying property value, before deduction of deferred tax, amounts to MSEK 369. The buyer is Västerkulla Hotell AB.

"The divestments combined are made above book value and they reflect a growing interest in hotel properties. They are good examples of our ability to create value through active ownership, and also reduce our debt", says Liia Nõu, CEO of Pandox.

The seven hotel properties together generated an annual net operating income of approximately MSEK 130.

The divestments are expected to be completed in the fourth quarter of 2026.

The divestments are part of the process for potential divestments in the Nordic region in 2026 that Pandox has previously communicated.

Divested hotel properties