Pandox completed the acquisition of NH Brussels Louise from NH Hotel for $36m.

Pandox, an owner and operator of hotels, completed the acquisition of NH Brussels Louise, a hotel with 246 rooms, from NH Hotel, a Spanish hotel chain, for $36m. "We have a well-established partnership with NH Hotel Group and appreciate the opportunity to acquire NH Brussels Louise. The hotel has a strong location in central Brussels with good development potential. Brussels is a growing hotel market that we have been active in for almost 25 years and know very well. We own eight hotel properties in Brussels, six of which in Operator Activities and two in Property Management with NH Hotel Group as tenant, making us a significant hotel property owner and hotel operator in the city. Over the years, we have successfully improved hotel properties in many different markets, not least in Brussels. With our strong local commercial and technical platform in Brussels, I am confident we will be able to generate a good return on our investment in NH Brussels Louise," Liia Nõu, Pandox CEO.