An ibis hotel has been sold to an international hotel group for approximately \u00a37.5 million.<\/p>\n
The 101-bedroom hotel, located on Miller Street in Glasgow city centre, was developed by Maven clients in 2014 and opened in September 2015.<\/p>\n
Since launch, the hotel has traded under the ibis Styles brand, part of the Accor group.<\/p>\n
Paul Johnston, partner at Maven, said: \u201cThis sale marks a successful exit from a long-standing investment that has delivered consistent performance and strong returns for our investors.<\/p>\n
\u201cWe are pleased to have secured a strategic buyer with deep sector expertise and a commitment to maintaining the hotel\u2019s brand and operational continuity.\u201d<\/p>\n
The sale delivers a return of 1.40x money multiple to investors, in addition to tax relief under Business Premises Renovation Allowances (BPRA).<\/p>\n
The purchaser has branded properties across Europe and North America, including assets in Paris, London, Amsterdam, Montreal and Edinburgh. Accor has approved the change of control under the franchise agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"
An ibis hotel has been sold to an international hotel group for approximately \u00a37.5 million. The 101-bedroom hotel, located on Miller Street in Glasgow city centre, was developed by Maven clients in 2014 and opened in September 2015. Since launch, the hotel has traded under the ibis Styles brand, part of the Accor group. Paul […]<\/p>\n","protected":false},"author":1,"featured_media":5870,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n