Pandox, an owner of hotel properties in Northern Europe, has acquired The Queens Hotel in Leeds.
The £53m acquisition includes both the hotel property and the hotel operations.
The hotel has 232 rooms and will be operated as an independent brand under a new management agreement with Axiom Hospitality.
Liia Nõu, CEO of Pandox, said: “We are pleased to acquire the iconic and market leading The Queens Hotel in central Leeds. The hotel is located next to the city’s largest square and the central station, attracting both leisure and business travellers.
“The hotel product is in very good condition after a newly completed renovation. The transaction is made at an attractive yield, and we see good potential to further increase the hotel’s return over time through active measures in operation, organization and product offering.”
In recent years, The Queens Hotel has undergone a substantial renovation and upgrade of all rooms, public areas, restaurant and bar, and the hotel is in a strong position in its market.
The hotel was sold by Aprirose.
