Pandox has signed an agreement to acquire the newly built Elite Hotel Frost in central Kiruna. The total acquisition price amounts to SEK 347 million and is financed by cash and existing credit facilities. This is stated in a press release.

Elite Hotels is a tenant under a 15-year turnover-based lease with a minimum level. 

Occupancy is planned for the second quarter of this year. The hotel is in the final stages of completion and is expected to open to guests in June 2025. Pandox will occupy the hotel property after completion.