Thu, 04 Sep 2014 | COMMERCIAL PROPERTY
The five-star Lowry Hotel in Manchester has changed hands in a multi-million pound deal, after initially being placed on the market in 2007 for £50 million.
Rocco Forte Hotels took the Lowry off the market in July 2013, and placed it back up for sale again earlier this year with a reduced price tag of £40 million. The exact figure of the sale was not disclosed.
Westmount Hospitality Group and investment partner Mount Kellett Capital Management bought the hotel, which features 158 rooms and seven suites, and is frequented by celebrities such as football players Frank Lampard, Marcos Rojo, Louis Van Gaal, and Angel di Maria, who have all been snapped emerging from the hotel.
Under the existing management team the new owners are set to undergo a series of refurbishments.
Sir Rocco Forte told Manchester Evening News: “I am very proud that we created the Lowry as a first-class hotel in 2001 with an outstanding team and, in the process, played a role in the renaissance which Manchester has enjoyed in recent years. I wish the team at the Lowry, its customer, and its new owners the very best for the future.”
A double room for the night at the Lowry, which has won over 60 awards, will set visitors back £252, while a family suite costs £748 per night. It has a restaurant and bar, spa and caters for meetings.
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