Pandox acquisition of the Hilton Belfast among the
noteworthy deals of the past week.
Pandox AB has completed the acquisition of the 202-room
Hilton Belfast from Starwood Capital, and the property will now be managed by
Axiom Hospitality subject to a franchise under the Hilton brand. The total
acquisition price, including certain targeted value increasing investments,
amounts to approximately £40 million (£198,020/key) and will initially be
financed by cash and existing credit facilities. Pandox expects the hotel to
generate a stabilized yield of approximately 10%.
Read about this and download an Excel file with the other
deals of the past week by clicking here.