Pandox buys Manchester’s Midland Hotel
Swedish investor Pandox AB has agreed to acquire the Midland Hotel in Manchester from Aprirose for £115m.
Pandox has partnered Fattal Hotels Group through its European brand Leonardo Hotels on the deal. Leonardo will operate the hotel.
The four-star building, which opened in 1903, features 312 bedrooms and two restaurants – Adam Reid at the French and Mr Cooper’s – as well as a tea room, bar and lounge, 14 conference and meeting rooms, a spa and gym.
Swedish investor Pandox AB has agreed to acquire the Midland Hotel in Manchester from Aprirose for £115m.
Pandox has partnered Fattal Hotels Group through its European brand Leonardo Hotels on the deal. Leonardo will operate the hotel.
The four-star building, which opened in 1903, features 312 bedrooms and two restaurants – Adam Reid at the French and Mr Cooper’s – as well as a tea room, bar and lounge, 14 conference and meeting rooms, a spa and gym.
The hotel, which will retain its name, will receive an £11m investment for renovation.
David Fattal, chief executive of Fattal Hotels Group, said: “The reputation of the hotel speaks for itself and with this we have the opportunity to further expand and strengthen the depth and breadth of our portfolio.”
Jason Carruthers, managing director of Leonardo and Jurys Inn Hotels UK and Ireland, added: “With a very experienced management team and dedicated employees, the hotel fits well into our broader portfolio and is in line with our strategy to position the group as one of the UK’s most significant hotel owner and operators.”
UK strategy
Pandox chief executive Anders Nissen previously described his plan to EG to focus on the UK’s regional markets, highlighting Glasgow, Cardiff, Dublin, Manchester and Sheffield as particularly appealing locations.
At the end of last year, Pandox and Fattal partnered on the £800m acquisition of Lone Star’s Jurys Inn Hotel Group.
The partnership has since agreed to invest around £32m in the redevelopment and expansion of the existing Jurys Inn Edinburgh hotel and its neighbouring site.
The investment includes plans to convert an adjacent listed building to a new 131-room NYX hotel and the development of 31 new residential units on the 1.2-acre Jeffrey Street site.
Pandox’s portfolio comprises 143 hotels with around 31,500 hotel rooms in 15 countries.
Fattal now operates 43 hotels in the UK and Ireland under both Leonardo and Jurys Inn brands.
The Midland Hotel is where Charles Rolls was introduced to Henry Royce, leading to the formation of Rolls-Royce in 1904.
Notable guests also include Queen Elizabeth, the Queen Mother, and Sir Winston Churchill. The Beatles were refused entry to one of its restaurants for being “inappropriately dressed”.
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