Hotel property company Pandox has acquired and taken over Hilton Belfast, a hotel property, including operations, in central Belfast, UK. 

The total acquisition price, "including certain targeted value-enhancing investments", amounts to approximately £40 million and will initially be financed by cash and existing credit facilities, according to a press release.

Pandox expects the hotel to generate a stabilized yield of approximately 10 percent.

”"The hotel product was upgraded through renovation of all rooms and public areas during the pandemic years and is very competitive," writes Pandox.

The hotel will be reported under the Operator Operations business segment.

Source: Dagens Industri