The Lowry is up for sale for second time in two years

28 November 2016 by
The Lowry is up for sale for second time in two years

The five-AA-star, 165-bedroom Lowry hotel in Salford has been out up for sale for an undisclosed sum, just over two years after it was sold by Rocco Forte Hotels.

Located a few minutes from Manchester city centre, the property was bought by Westmont Hospitality Group and its investment partner Mount Kellett Capital Management in September 2014, off a sales price of around £40m.

The hotel has since undergone a £5m refurbishment and a rebranding as an independent property under its current ownership, directed by general manger Adrian Ellis. New facilities include a new QMS Medicosmetic spa and six riverside suites inspired by the work of Oldham-born artist Alan Rankle and created by interior design practice Arney Fender Katsalidis.

Ellis said on the completion of the hotel's new look: "We are the only hotel in the city centre named after an artist, and we are proud to celebrate not only LS Lowry, renowned for his depictions of Salford, but also work with and display contemporary artists and photographers."

The Lowry was originally opened by Rocco Forte Hotels in 2001. According to its latest financial results, lodged at Companies House, the property achieved revenue of £12.7m for the 12 months to 30 April 2016, up from £12.5m the previous year, with pre-tax profit at £1.3m (up from £800,000).

Westmont Hospitality Group was founded by Majid Mangalji in 1975 and today is believed to be one of the largest privately owned companies in the sector with more than 500 hotels, operating both independently and under a diverse portfolio of brands from InterContinental Hotels Group, Hilton Worldwide, Accor, Starwood, Wyndham and Best Western.

CBRE has been appointed as sole selling agent for the hotel.

Lowry hotel to undergo £5m refurbishment >>

Adrian Ellis returns to Manchester as GM of the Lowry hotel >>

Rocco Forte Hotels sell the Lowry in Manchester >>

Latest video from The Caterer

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking