Pandox, a leading owner of hotel properties in Northern Europe, has acquired The Queens Hotel for approximately €60 million from Aprirose Ltd.
The acquisition of the central Leeds property includes both the site and hotel operations. The Queens Hotel has 232 guestrooms and will be operated as an independent brand under a management agreement with Axiom Hospitality.
Previous owner Aprirose Ltd. has carried out substantial renovations in recent years. The hotel’s rooms, public areas, restaurant, and bar had all been upgraded prior to the sale.
Pandox focusses its activities on sizeable hotels in key leisure and corporate destinations. Its portfolio stands at 157 hotels with approximately 35,500 hotel rooms in 15 countries.
We are pleased to acquire the iconic and market leading The Queens Hotel in central Leeds. The hotel is located next to the city’s largest square and the central station, attracting both leisure and business travellers. The hotel product is in very good condition after a newly completed renovation. The transaction is made at an attractive yield, and we see good potential to further increase the hotel’s return over time through active measures in operation, organisation, and product offering.
Liia Nõu, CEO of Pandox