Pandox leases out operations of Hotel Park in Södertälje (SE)

Pandox has signed an agreement where Choice Hotels Scandinavia will manage the operations of Hotel Park in Södertälje, through a revenue-based lease. The hotel, which has 157 rooms and is located in central Södertälje, south of Stockholm in Sweden, will be operated by Choice Hotels as of June 1, 2009.

Pandox acquired the properties and operations for Best Western Hotel Skogshöjd and Quality Hotel Park in Södertälje in the beginning of 2007. Since then, Pandox has worked actively to further-develop the two hotels.

Park Hotel has been repositioned through a comprehensive refurbishment program, and operations have been developed to such a high standard that the hotel is now ready to be leased out. For Hotel Skogshöjd, Pandox has prior signed an agreement with Scandic for the operations, and the hotel is currently undergoing a renovation and upgrading program.

"Both of these hotels are excellent examples that it is possible to create value through developing and restructuring hotel properties and the actual operations, which is the core of our business," says Anders Nissen, CEO of Pandox.

Source: Hugin

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