A 5-star hotel in Manchester popular with footballers from the city’s two teams as well as famous celebrities has been bought by a Singapore-based real estate company.
Singapore-based CDL Real Estate Hospitality Trust has bought the Lowry Hotel from North Low SÁRL in a deal worth 52.2 million pounds (68 million U.S. dollars).
The new owner said the Lowry, Manchester’s first 5-star hotel, will continue to operate as a standalone hotel.
Vincent Yeo, chief executive of the trust managers, said: “Manchester is one of the most important cities outside of London with a buoyant economic outlook, and the hospitality market is supported by a strong mix of corporate and leisure demand, particularly in football-related and entertainment demand.”
The hotel’s facilities include 165 bedrooms, six suites and a presidential suite.