Pandox acquires Brussels Hilton for €29m

BRUSSELS Stockholm-based Pandox AB has acquired the 432-guestroom Brussels Hilton for €29 million, or €67,000 per key.

Pandox plans a €25 million restoration project to elevate the hotel to being one of the city’s leading business and conference hotels in the premium segment through an extensive development effort that will include rooms, conference facilities, public areas, property technology and appealing food and beverage.

Brussels Hilton is Pandox’s sixth hotel in the city, where it now owns 1,750 guestrooms. “This is a typical Pandox acquisition,” says CEO Anders Nissen. “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.”

The 43-year-old hotel is one of Brussels’ largest and best-known hotels. Located at Boulevard Waterloo just a few steps from the prestigious shopping street Avenue Louise, the hotel includes 26 floors with several conference areas, two restaurants, and a fitness and spa center.

The seller is an unnamed U.S. investment company.