Pandox AB (publ) signed a new lease with Scandic Hotels Group for Hotel Pomander in Nuremberg, Germany. The lease is revenue-based with a guaranteed minimum level and long term. The agreement comes into force on 1 March 2024.

Pandox acquired the hotel property in 2019 under a fixed lease and took over the operations in the autumn 2021 when the hotel also closed for renovation. The hotel reopened in September 2023 in Pandox's own operations as Hotel Pomander Nürnberg, after extensive renovation and repositioning. In total, Pandox has invested approximately EUR 80 million in the hotel property, including the acquisition price.

The hotel has 311 rooms and attractive conference facilities as well as generous public areas for food and beverage, recreation and coworking for both business and leisure travellers. The hotel property has a strong location in central Nuremberg and is in very good condition, both commercially and technically. BREEAM certification is ongoing.