The £17.5 million, 221-bedroom Hampton by Hilton Manchester Northern Quarter hotel is to be operated by independent hotel management company Redefine BDL hotels (RBH) when it opens in 2020.
The Hilton Manchester Northern Quarter is located on the corner of Rochdale Road and Sharp Street. It will feature a restaurant, fitness centre and meeting space.
The hotel development is being funded by Hong Kong-based IP Investment Management in conjunction with asset manager Maven Capital Partners, which currently asset manages three of RBHs properties in its portfolio.
Andrew Robb, RBH's chief business development officer, said: "Hampton by Hilton Manchester Northern Quarter will be RBH's third Hampton by Hilton property, and our fourth property in Manchester. We're thrilled to add yet another hotel to our growing portfolio."
Selina Williams, investment director at IP Investment Management added: "Hampton by Hilton Manchester Northern Quarter will be IP Investment Management's first investment in the hotel sector, so we're delighted to be partnering with such an experienced manager as RBH. It is our second investment in the Greater Manchester area, following our recent forward funding of a build to rent scheme in MediaCity, Salford, showing our confidence in the Manchester market."
RBH already operates 75 properties in the UK across a variety of brands, including those owned by Hilton, InterContinental Hotels Group, AccorHotels and Marriott. It has an annual turnover under management in excess of £350m.
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