Pandox seeks to choose brands and partners that strengthen the profile, market position and operations of each individual hotel. Pandox currently collaborates with ten hotel chains, making use of 18 different, well-known, and well-established brands. In addition to this, Pandox has developed and established a number of company-owned independent hotel brands.
Pandox hotel portfolio is of high standard with well-diversified revenue streams. We benefit from long leases with well-known tenants, providing income stability, lower capital expenditures and reduced risk for Pandox. Approximately 80 percent of our net operating income is generated by leased hotels with strong operators and brands. Together with our partners we create mutual value through product development projects and refurbishments where we share both investments and the future financial benefits derived from these investments. This is an important part of our strategy, creating conditions for healthy growth and contributing to portfolio quality and value growth over time.
The majority of Pandox's majority tenant base consists of well-known hotel operators with strong hotel brands in their respective markets. The tenants are both Nordic-orientedsuch as Scandic (the largest hotel operator in the Nordics with more than 200 hotels), Nordic Choice Hotels and operators focused on other regions and global markets such as Fattal (Leonardo), Rezidor (Radisson Blu) and Hilton.