Stockholm-based hotel property company Pandox has bought the Brussels Hilton for a cool €29 million.

This acquisition will see Pandox’s portfolio in Belgium’s capital city shoot up to six properties (1,750 rooms). Pandox has acquired a total of eight hotels overall in Belgium since 2001, with two hotels in Antwerp

Plans are under way to invest approximately €25 million in an extensive renovation programme.

Commenting on the sale, which includes the operation of the hotel and its building, Anders Nissen, Pandox’s chief executive officer, said: “This is a typical Pandox acquisition. We see significant potential in such a well-known hotel, and it will be a great honor for us to take on this development work.”