Pandox acquires the hotel property Radisson SAS Hotel in Malmö, Sweden, from Wihlborgs Fastigheter AB and will take over the business on 1 September 2006. The acquisition price is approximately €26 million (MSEK 260).
Radisson SAS Hotel Malmö is one of the leading business hotels in southern Sweden and has an excellent location in central Malmö close to the business and shopping districts and is easily reached by public transport. The hotel product includes 229 hotel rooms of international standard, 12 conference rooms, relax center and restaurant.
Malmö's hotel market is part of the dynamic Öresund region that is one of the strongest hotel markets in Scandinavia. Pandox owns since earlier Scandic S:t Jörgen and Scandic Kramer in Malmö, Scandic Star in Lund, as well as Scandic Copenhagen and Copenhagen Hotel 27 in Copenhagen.
"Pandox strengthens its position as the leading hotel property company in the Öresund region. After the acquisition of Radisson SAS Hotel Malmö Pandox now owns five hotels with more than 1,500 rooms in the area, of which Copenhagen Hotel 27 under own management," says Anders Nissen, CEO of Pandox AB.