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Development Renovation Scheduled for first half of 2024

NH Brussels Louise

PANDOX signs a new lease agreement with Citybox for a hotel property in central Brussels

Pandox AB has signed a lease agreement with the Norwegian operator Citybox for the current NH Brussels Louise, which Pandox acquired earlier in 2022. The lease agreement is expected to become effective during the first half of 2024 when the hotel reopens after an extensive renovation. The lease is revenue-based with a minimum rent and runs over 25 years with an option for a further 10 years.

NH Hotel Group and Pandox Hotels
Bruxelles, Belgium

The hotel, which has 246 rooms, will continue to be operated in Operator Activities under a franchise with the NH Hotels brand until the start of the renovation in April 2023. The renovation covers all parts of the hotel property, including BREEAM certification, and is expected to amount to approximately MEUR 12 with a good stabilised return. The hotel will be closed during the renovation and is expected to reopen in the first half of 2024 with Citybox as tenant.

Hotel Website
Europe Belgium Bruxelles
NH Hotels
Hotel Brand

The NH Hoteles ensign covers the company’s three and four-star urban establishments, whose distinguished position is based on a single product and service standard, extraordinary location and excellent price/quality ratio. The Group has a large presence of NH branded hotels around the world. Apart from its leadership position in Spain, Germany, the Netherlands and Italy, the NH Hoteles brand has a strong presence in Latin America, in countries...

NH Hotel Group
Hotel GroupManagement CompanyBrand Owner

NH Hotel Group is a consolidated multinational player and a leading urban hotel operator in Europe and America, where it operates over 350 hotels. Since 2019, the Company works with Minor Hotels in the integration of their hotel brands under a single corporate umbrella with presence in over 50 countries worldwide. Together, both Groups have a portfolio of over 500 hotels articulated around eight brands: NH Hotels, NH Collection, nhow, Tivoli,...

Pandox Hotels
Hotel GroupInvestment Company

Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 144 hotels with approximately 32,300 hotel rooms in 15 countries. Pandox’s business is organised into Property Management, which comprises hotel properties leased on a long-term basis to market leading hotel operators, and Operator Activities, which...