Pandox acquires seven hotel properties in Germany from HR Group for €290 million
Clients Pandox AB
Jones Day advised Pandox AB, a leading hotel investor in Northern Europe, on the acquisition of seven German hotel properties with a total of 1,532 rooms from HR Group for €290 million. The hotels will continue to be managed by the HR Group within the framework of fixed rents and will be converted into turnover-based rental agreements by 2024 at the latest. The acquisition was financed by cash and new bank loans.