Pandox has agreed to sell seven hotel properties in Denmark and Sweden in two separate transactions with a combined underlying property value of approximately Skr2.1bn ($210m) before deferred tax.
The properties are in its leases business segment and have a combined 1,248 rooms, the hotel property company said in a statement.
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A company jointly owned by Alma Property Partners and Midstar will acquire five Danish hotels with 928 rooms. Their underlying value is DKr1.16bn, equivalent to approximately Skr1.7bn before deferred tax.
The Danish properties are Motel One Copenhagen, a 200-room city-centre hotel, and Scandic Sluseholmen, a 215-room hotel in Copenhagen’s ring-road area.
The sale also includes the 120-room Scandic Glostrup; the Scandic Hvidovre, with 207 rooms; and the 186-room Scandic Kolding.
After the sale, Pandox will own three hotels with 912 rooms in Denmark, all in central Copenhagen.
In Sweden, Västerkulla Hotell will acquire two properties with a total of 320 rooms for an underlying value of Skr369m before deferred tax.
They are the 170-room Scandic Hallandia in Halmstad city centre and the 150-room Scandic Kalmar Väst in Kalmar’s ring-road area.
Pandox CEO Liia Nõu said: “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.”
The seven hotels generated annual net operating income of approximately Skr130m.
Pandox’s portfolio comprises 191 hotel properties with nearly 42,400 rooms across 11 countries in Northern Europe.
The company expects the transactions to close in the fourth quarter of 2026. They form part of its previously announced process for potential Nordic divestments this year.
