PANDOX SELLS 14 HOTELS IN SWEDEN

Fastighets AB Balder has acquired a portfolio of 14 hotels (2,430 rooms) across Sweden from Stockholm-based hotel property company Pandox for SEK2.2 billion (US$333.4 million), SEK905,349 per room. The deal is expected to close during the second quarter of 2014 and comprises the 159-room Best Western Royal Corner Växjö, the 131-room Clarion Hotel Plaza Karlstad, the 247-room Park Inn by Radisson Solna, the 137-room Quality Hotel Grand Kristianstad, the 164-room Quality Hotel Nacka, the 200-room Scandic Gävle Väst, the 225-room Scandic Skogshöjd Södertälje, the 196-room Scandic Star Lund, the 201-room Scandic Swania Trolhättan, the 133-room, Scandic Uplandia Uppsala, the 156-room Scandic Uplands Väsby, the 184-room Scandic Uppsala Nord, the 174-room Scandic Västerås and the 123-room Scandic Växjö. The transaction reduces Pandox’s hotel portfolio to 105; the group also owns one congress centre and 16 hotel operating companies.

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