Published on Thursday, April 6, 2017

Manchester hotel changes hands




The Holiday Inn Manchester City Centre has been sold to a controlled affiliate of Starwood Capital Group.

According to previous owners, Dominvs, the deal represents the largest single asset hotel sale in Manchester on record, but it did not disclose a sale price.

The landmark freehold site, close to Piccadilly Station, was acquired by Dominvs in 2013.

The 298-bedroom hotel opened in April 2016.

Preet Ahluwalia, on behalf of Dominvs Group and the Ahluwalia family, said: "In what is a competitive market, our management team have overseen a fantastic first year's trading, with the hotel delivering above expectations. The decision to sell allows us to focus on our wider strategy, which is to grow our development pipeline in key gateway cities such as Bath, Cambridge and London.'
 

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