July 14, 2014
Singapore-based investment group ML Hospitality has agreed to a 125-year lease with the University of Manchester in the UK to build a 19-story hotel as part of its £1-billion campus master plan, reports The Business Desk.
Built next to Manchester Business School, the 326-room hotel will include a restaurant, bar, conference facilities and gym. It will be the only hotel on the main University of Manchester campus.
The new investment is ML Hospitality’s first in Manchester. It acquired two hotels in London in 2012 and also assets in Singapore, Australia, Japan and New Zealand.
Manchester-based Bruntwood will develop the hotel on behalf of ML Hospitality. Cycas Hospitality, which is ML’s operator for their Stratford City hotels in London, will manage the property.
Last year, Manchester council approved plans for the 19-story hotel at the site. At that stage it was to be operated by InterContinental Hotels Group under its Crowne Plaza and Staybridge Suites brands.
View the original story here.
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