Hetherley Capital Partners (“Hetherley”) is pleased to announce the acquisition of the 120-bedroom Holiday Inn Express Strathclyde, Glasgow in conjunction with partner Stellar Asset Management. Originally opened in 1996, the Holiday Inn Express Strathclyde was the first Holiday Inn Express branded hotel to open in Europe more than 20 years ago.
The 120-bedroom hotel will continue to operate under the Holiday Inn Express brand under franchise from IHG and will be managed by a subsidiary of Hetherley, Hetherley Hotel Management (“2HM”). The hotel occupies a highly accessible location off Junction 5 of the M74 and is less than 20 minutes from Glasgow city centre. Strathclyde Business Park, home to approximately 240 businesses, is less than 5 minutes from the hotel.
At the end of the summer, the hotel will undergo a comprehensive refurbishment program costing in excess of £1.5m designed to upgrade all areas of the hotel to the latest Holiday Inn Express Gen4 brand standard. Once completed, the fully refurbished hotel lobby, dining area and guest rooms will herald a new chapter for the hotel.
“We are thrilled to have acquired the Holiday Inn Express Strathclyde and are excited about the opportunity to comprehensively refurbish the asset,” said Charles Scudamore, Principal of Hetherley Capital Partners. “As well as bolstering our investment portfolio, this acquisition represents another important step for the continued growth of Hetherley and the development of our hotel management capability, 2HM. We look forward to working with IHG to drive the business forward.”
Speaking on behalf of Stellar, Jonathan Gain CEO of Stellar Asset Management commented “we are obviously delighted to have acquired another strong trading asset in such a good location. The hotel sector is an exciting space for us and one that offers our investors both yield and strong capital growth potential.”
Hetherley Capital Partners (“Hetherley”) is a specialist hotel investment, operations and asset management firm able to deploy a comprehensive range of sector-specific skills across all of its hotels. Established in 2012 and with a growing portfolio of hotels in the UK and Ireland, Hetherley works through the life cycle of each investment from deal origination to successful exit, delivering superior, risk-adjusted returns for its capital partners.
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