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Freshfields advises Pandox AB on its acquisition of the Heathrow Hilton Hotel

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Pandox AB (“Pandox”) on its agreement to acquire Hilton’s London Heathrow Airport for £80m. 
 
Pandox is a Stockholm-listed leading owner of hotel properties in Northern Europe, with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 121 hotels with more than 26,000 hotel rooms in ten countries in Northern Europe.
 
Hilton’s London Heathrow Airport is a full-service premium hotel with 398 rooms and a strong location at London-Heathrow Terminal 4. The hotel is operated by Adda Hotels – a subsidiary of Hilton Worldwide Holdings – under a revenue-based lease agreement.
 
Anders Nissen, the CEO of Pandox said: 
 
"Great Britain is a prioritised market and we are delighted over the acquisition of Hilton London Heathrow Airport at Europe’s largest and the third largest airport in the world. The hotel is large, profitable and has a strong location at London-Heathrow Terminal 4, which the guests reach by a covered walkway. At the terminal swift access to London via underground is available, which makes the hotel attractive to all types of guests. The hotel is operated by Hilton under a long-term revenue-based lease agreement in a sub-market with high occupancy and good average rates and contributes to a further diversification of our portfolio.”
 
Freshfields partner Victoria Hills said: 
 
“We are delighted to work alongside new client Pandox on this strategically significant acquisition, which fulfils a long standing aim of our client’s to re-enter the competitive UK hotels market.”
 
The Freshfields team was led by real estate partner Victoria Hills, with support from real estate senior associate Robert Bindless and real estate associate Christine Partridge. Tax advice was provided by tax partner Jill Gatehouse and tax associate Byul Han.
 
The acquisition is expected to be completed during the third quarter of 2017. 
 
ENDS
 
Notes for Editors
 
About Freshfields Bruckhaus Deringer
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms.  Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.
 

The Freshfields team was led by: