Pandox, a prominent hotel property owner, has completed the acquisition of three extended stay hotels in central London for £230 million. The purchase includes 503 rooms spread across three Residence Inn by Marriott locations in Kensington, London Bridge, and Tower Bridge. The properties will continue to be operated by Axiom Hospitality under a management agreement.

The new portfolio is expected to generate approximately £34 million in annual revenue, with a projected net operating income of £17 million. The acquisition was financed through cash reserves and a new green bank loan, benefiting from the properties’ energy-efficient ratings of A-B.

Liia Nõu, CEO of Pandox, said: “We are happy to have acquired three well-positioned freehold aparthotels in strong locations in central London, thereby increasing our exposure towards the attractive extended-stay segment.” She further highlighted the hotels’ profitability and their strong market presence, aided by Marriott International’s distribution channels.

The acquisition might be mentioned at upcoming property networking events in London, providing opportunities for industry professionals to explore the growing extended-stay market. It could also be of interest at infrastructure investment events in the city, where sustainability and green financing are becoming key topics.

Pandox’s relationship with Axiom Hospitality has now expanded to eight hotels across the UK, strengthening their presence in the region’s hotel sector.

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