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Sale, lease, default: Sircle in court… again

Liran Wizman's story reveals a pattern, Europe-wide and international

Centraal Amsterdam_room Classic_16-9_c Pandox

The Park Centraal Hotel Amsterdam in a prime city centre location, is owned by the Swedish investor Pandox, which operates 192 hotels itself. It has taken legal action against the operator, Sircle. / © Pandox

22.5.2026

Liran Wizman built some of Amsterdam's most celebrated hotels using a sell-and-lease-back formula that worked brilliantly… until it didn't. With more than 30 million euros in confirmed rent arrears across five properties, and Pandox moving to freeze his bank accounts, landlords across Europe are running out of patience.

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