Pandox AB (publ) has signed an agreement to acquire newly built Elite Hotel Frost with 154 rooms in central Kiruna, Sweden. Elite Hotels is the tenant under a 15-year revenue-based lease agreement with minimum guarantee. Total acquisition price amounts to approximately MSEK 347 and is financed by available cash funds and existing credit facilities. The closing of the transaction is planned to take place in the second quarter of 2025.
“With the acquisition of newly built Elite Hotel Frost we are back in Kiruna, which is an important hub for both business and tourism in northern Sweden. The acquisition is well aligned with our view on the northern part of the Nordic area as a region with good economic prospects and growing demand from…
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
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Comprehensive Summarization: The article discusses Khyber Pakhtunkhwa (KP) Chief Minister Mohammad Sohail Afridi's directive to assess the feasibility of establishing...
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