Pandox to divest Crowne Plaza Antwerp for €19m

Hotel property owner and developer Pandox has agreed to sell its Crowne Plaza Antwerp hotel in Belgium for €19 mln. 

Crowne Plaza Antwerpen

The deal, which includes both the property and the hotel's operations, is expected to close in February 2026.
Pandox originally acquired the 262-room hotel in 2007 and completed a major renovation in 2011. This upgrade modernised the lobby, bar, conference facilities, rooms, and added a new spa and fitness centre with an event pool. These improvements have made the Crowne Plaza Antwerp a top business hotel in the city for meetings and corporate events. 
In 2024, the hotel generated around €11 mln in revenue.
Liia Nõu, CEO of Pandox, said: “We are satisfied with the divestment of Crowne Plaza Antwerp, which is freeing up capital for other investments with higher return potential. The land lease expires in 2042, and we see limited development opportunities within the scope of Pandox’s business model.”