Pandox AB (publ) has signed a new lease agreement for h27 in central Copenhagen with the operator Motel One. The lease is revenue-based with a minimum guaranteed rent and a tenor of 20 years. The takeover is expected to take place in the beginning of the fourth quarter 2021. At that time the hotel property will also be reclassified to Property Management from Operator Activities. Both the revenue-based rent and the minimum rent are gradually increased over a four-year period. The hotel is leased in current condition, and Motel One bears all costs for the brand change and all opening costs. Pandox's responsibilities include roof, facade and property structure as well as major technical installations. The hotel property that houses h27 (formerly Hotel Twentyseven) was acquired by Pandox in 2005. Pandox took over the operation of the hotel in April 2020 and began a renovation and repositioning project that was completed in June 2021. The hotel has 200 rooms and will include a restaurant and bar, meeting room and a large outdoor terrace. The hotel is centrally located in Copenhagen with walking distance to, among others, the Central Station, Rådhuspladsen and Strøget.