Pandox, Stockholm, has sold 14 hotel properties in Sweden totaling 2,400 guestrooms to Fastighets AB Balder, Stockholm, for 2.2 billion kronor (US$333.6 million).
Fastighets AB Balder will assume ownership of the properties during the second quarter of 2014.
The hotels included in the portfolio are the:
- 159-room Best Western Royal Corner Växjö
- 131-room Clarion Hotel Plaza Karlstad
- 247-room Park Inn by Radisson Solna
- 137-room Quality Hotel Grand Kristianstad
- 164-room Quality Hotel Nacka
- 200-room Scandic Gävle Väst
- 225-room Scandic Skogshöjd Södertälje
- 196-room Scandic Star Lund
- 201-room Scandic Swania Trollhättan
- 133-room Scandic Uplandia Uppsala
- 156-room Scandic Upplands Väsby
- 184-room Scandic Uppsala Nord
- 174-room Scandic Västerås
- 123-room Scandic Växjö
After the divestment, Pandox’s portfolio will comprise 105 hotel properties with a total of 22,000 guestrooms in nine countries.