Elite Hotel Frost in Kiruna is set to open its doors in June 2025 following Pandox AB’s successful acquisition of the newly constructed property for over MSEK 347. The 154-room hotel will be leased to Elite Hotels under a 15-year revenue-based agreement, ensuring a stable and lucrative partnership. With its unique Scandinavian design and prime location, the hotel is poised to attract both leisure and business travelers to the thriving northern Swedish destination.
Pandox AB Acquires Elite Hotel Frost in Kiruna, SwedenPandox AB (publ) has successfully entered into an agreement to acquire the newly built Elite Hotel Frost, situated in the heart of Kiruna, Sweden. The 154-room property will be leased to Elite Hotels under a 15-year revenue-based lease with a minimum guarantee, at a purchase price of around MSEK 347. This acquisition will be funded through available cash and existing credit lines, with the deal expected to be finalized in the second quarter of 2025.
Financial Details of the AcquisitionThe acquisition price is about MSEK 340, with stamp duty estimated at around MSEK 7. The hotel will deliver a stabilized yield of approximately 7 percent under the lease agreement.Hotel Features and FacilitiesThe hotel features two restaurants, meeting and conference facilities, a sky bar, as well as a gym and spa.
Its distinct Scandinavian design appeals to both leisure and business travelers.Sale by Kiruna MunicipalityThe seller, Kiruna municipality, made the decision to divest th.
