The northern Europe property company Pandox has completed the acquisition of a hotel portfolio across Germany from the Leopard Group. It includes 18 hotels with 3,415 rooms in 12 German cities. The hotels will be marketed under the brand name Leonardo Hotels and are positioned in cities such as Frankfurt, Düsseldorf and Hamburg with a high share of international demand, as well as in regional cities like Cologne, Hannover and Mönchengladbach. The final acquisition price was €400m.
