Pandox acquires Brussels Hilton
(Thomson Reuters ONE) -
PRESS RELEASE September 7, 2010
Pandox acquires
Brussels Hilton
- Pandox's strengthens its position as a leading player with six hotels and
total of 1,750 rooms in Brussels, one of Europe's most dynamic hotel markets.
Brussels Hilton is one of Brussel's largest and best-known hotels. The hotel
property is located at Boulevard Waterloo just a few steps from the prestigious
shopping street Avenue Louise. The hotel, which is a landmark, comprises 432
rooms on 26 floors with several conference floors, two restaurants, fitness and
spa center.
The acquisition totals EUR 29 million, which includes the hotel building and the
operations. The seller is a US investment company.
Brussels Hilton was built in 1967 and has since then been a part of the Hilton
chain. In recent years, the hotel has lost its strong market position as a
result of an outdated offering and service selection that has not met the
expectations of today's travelers.
Pandox's vision is to restore the hotel to its historically strong position as
one of the city's leading business and conference hotels in the premium segment.
It will be achieved through an extensive development program including rooms,
conference facilities, public areas, property technology and an appealing food
and beverage offering. Another important area will be to implement a modern
organization that corresponds to the high demands from today's and future
guests. The total investment is estimated to just over EUR 25 million.
With the acquisition of Brussels Hilton, Pandox strengthens its position as one
of Brussels' leading hotel players. See appendix.
"This is a typical Pandox acquisition. We see significant potential in such a
well-known hotel, and it will be a great honor for us to take on this
development work," says Anders Nissen, CEO of Pandox.
For further information:
Anders Nissen Aldert Schaaphok
CEO, Pandox AB Business Area Manager, Director of Operations,
+46 (0)708 46 02 02 +32 497 40 10 03
anders.nissen(at)pandox.se aldert.schaaphok(at)pandox.com
One of the leading players in the hotel property market in Europe regarding
geographic area, number of hotels, brands and size. The portfolio consists of
120 hotels, ten own operations with 24,500 rooms located in Sweden, Finland,
Norway, Denmark, Germany, Belgium, the UK, Switzerland, the Bahamas and Canada.
Pandox's hotels operate through differing business models under well-known
brands such as Scandic, Hilton, InterContinental, Hyatt, Radisson Blu, Crowne
Plaza, Holiday Inn, Clarion, Quality, Elite, First, Rica, Ibis, Best Western or
through independent distribution channels. Pandox is owned by Eiendomsspar AS
and Sundt AS.
Pandox's Belgian hotel portfolio
consists of the following hotels.
Brussels
Brussels Hilton
432 rooms
Acquired 2010
Crowne Plaza Brussels City Centre
354 rooms
Acquired 2003
Developed into one of Brussel's leading conference hotels
Investment: EUR 15 M
Hotel BLOOM!
305 rooms
Acquired 2005
Developed into one of Belgium's leading lifestyle hotels.
Investment: EUR 12 M.
Hilton Brussels City
283 rooms
Acquired 2001
Developed into a business product with a boutique atmosphere
Investment: EUR 13 M.
Holiday Inn Brussels Airport
310 rooms
Acquired 2006
Upgraded to one of Brussels Airport's best upper middle-class hotels
Investment: EUR 5.5 M.
Scandic Grand Place
100 rooms
Acquired 2001
A middle-class hotel located close to the Grand Place.
ANTWERP
Crowne Plaza Antwerp
262 rooms
Acquired 2006
An investment program is in progress.
Investment: EUR 3 M
Scandic Antwerp
264 rooms
Acquired 2001
A middle-class hotel with excellent conference facilities
[HUG#1442839]
Pandox acquires Brussels Hilton 7 SEP 2010_ENG:
http://hugin.info/1165/R/1442839/387072.pdf
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Source: Pandox via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 41457
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