Together with the group Fattal as operating partner, the investor acquires a portfolio of 37 properties.
In keeping with the companies strategic axes in terms of range, profitability and location of hotels the investment will allow Pandox to add 20 destinations with 4694 rooms to its portfolio.
The Fattal Hotels group will operate 36 hotels under the Jurys Inn brand with a 25 year lease and a minimum rent guarantee an shared investments, which lies at the heart of the economic model of Pandox.
In all an initial debt-free investment of 800 million Pounds Sterling (around 912 million euros) that allows Pandox to further develop its portfolio by around 27,000 rooms in 11 countries.
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