Pandox has entered into talks to acquire a London hotel portfolio worth around €260 million.
The hotel owner and operator says that although it has entered into a negotiating phase, discussions may not necessarily lead to an agreement and it’s not certain that the transaction will be successfully concluded.
In 2023, Pandox expanded its reach in the UK with its £53m purchase of 232-key QHotel The Queens in Leeds and its £40 million acquisition of 202-room Hilton Belfast.
What they said
Earlier this year, Pandox CEO Liia Nõu commented on the attractiveness of the UK hotel market, stating: “The UK is a one of Europe’s largest and most dynamic hotel markets. It has an attractive mix of domestic, regional and international demand and it has proved very resilient over time.”
Speaking exclusively to Hospitality Investor last year, senior vice president and director of property management international at Pandox Martin Creydt said: “We’re ambitious (on) the UK market. We are eager to find more investment opportunities in our existing portfolio or buying new properties with long term ownership. Our team is super focused on hotels in the upper mid and full-service market.”