Pandox has acquired the Pullman Cologne Hotel in central Cologne, Germany for €66 million.
The hotel owner and operator has inked an agreement to buy the upscale business hotel with AccorInvest as tenant
The Pullman Cologne comprises 275 rooms, a gym, bar, meeting areas and conference facilities for up to 1,000 people and a restaurant.
The hotel was sold by Art-Invest Real Estate on behalf of one of its institutional hotel funds. The transaction is expected to close in the second quarter of 2025.
The acquisition takes Pandox’s portfolio in Cologne to four hotels, joining Radisson Blu Cologne, Leonardo Hotel Köln Bonn Airport and Leonardo Royal Hotel Köln - Am Stadtwald.
What they said
Liia Nõu, CEO of Pandox said: “We are very pleased to acquire Pullman Cologne Hotel and further strengthen and complement our presence in Cologne. The hotel has a strong location close to the central station and the city centre. The hotel product is in good condition while offering good opportunities for significant growth in net operating income and property value through renovation and repositioning.”