Lowry Hotel sold in multi-million pound deal
The plush venue will remain under the same management team, with a revamp planned
- 17:15, 4 SEP 2014
- Updated 17:20, 4 SEP 2014
The five-star Lowry Hotel has today been sold in a deal worth tens of millions of pounds.
The luxury venue – frequented by stars of sport and showbusiness – has been bought by Westmont Hospitality Group and its investment partner Mount Kellett Capital Management.
Its management team will be kept on to continue running the luxury hotel and its new owners have promised a programme of refurbishments ‘to further enhance the quality of the offer.’
Over the past few weeks, soccer stars like Frank Lampard, Marcos Rojo, Radamel Falcao, Louis Van Gaal, Daley Blind and Angel di Maria have been photographed coming out of The Lowry.
Rocco Forte Hotels has managed to find a buyer for the venue, on Chapel Wharf, Salford, having twice placed it on the market.
It was first put up for sale in 2007, with a 50m price tag but was taken off the market in July 2013.
Earlier this year, we told how it was back up for grabs, with the price tag rumoured to be around 40m this time around. The exact sale price has not been disclosed by either party.
The Lowry opened in 2001 and has 158 rooms and seven suites.
Westmont Hospitality Group, formed in 1975, has strategic alliances with many of the world’s leading hotel brands, including Intercontinental, Fairmont, Leading Hotels of the World, Hilton and Marriott with hotels in cities including London, Paris, Barcelona and the Cote d’Azur.
Sir Rocco Forte said: “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 customers, and its new owners the very best for the future.”