Pandox completed the acquisition of DoubleTree by Hilton Edinburgh from Starwood Capital for £49m.

Pandox, a property management company, completed the acquisition of DoubleTree by Hilton Edinburgh, a full-service hotel from Starwood Capital, an investment firm headquartered in Miami Beach, Florida, for £49m. “DoubleTree by Hilton Edinburgh City Centre is a nice addition to our hotel property portfolio. The hotel is performing well with potential to further develop the hotel product and increase the return over time. The cooperation with Axiom Hospitality, which will comprise nine hotels in the UK, ensures effective operations and lower operational risk. The transaction is a good example of our ability to identify and make acquisitions which contribute to our earnings short term, while also laying the foundation for additional value creation long term,” Liia Nõu, Pandox CEO.