Hotel Indigo Newcastle sold to KE Hotels
Independent hotel owner KE Hotels has purchased the 148-bedroom Hotel Indigo Newcastle for an undisclosed sum.
It will be the third UK property under the KE Hotels portfolio, which includes Marriott Moxy Hotel Manchester City and Linton Lodge hotel in Oxford.
Hotel Indigo Newcastle opened in June 2012 following its conversion from a four-storey office building. It features a ground floor bar, restaurant area, health and fitness centre, and a car park with 102 spaces.
It is run as part of a franchise agreement with Intercontinental Hotels Group.
Gavin Wright, senior director for hotels at JLL, who advised on the sale, said: "Newcastle is one of the fastest-growing regional economies with £1.5b of investment planned confirmed by the City Council. Demand for regional hotels in key locations remains robust and we continue to see a variety of investor types seeking to deploy capital into the sector."
Anil Khanna, owner of KE Hotels, added: "We will be looking to invest in the hotel and securing its position as one of the leading boutique hotels in the city."