Pandox completed the acquisition of three Residence Inn by Marriott aparthotels for £230m.

Pandox, a property management company, completed the acquisition of three Residence Inn by Marriott aparthotels, a propertied located in the central London, for £230m. “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. The hotels are highly profitable, and the hotel products are well established in the market with strong distribution via Marriott International, which becomes a new cooperation partner to us. The hotel properties are of high technical and environmental standard and contribute positively to the overall quality of our hotel property portfolio,” Liia Nõu, Pandox CEO.