Patron Capital, the owner of the budget-boutique Generator Hostels brand, has announced it has sold its stake in the Staybridge Suites hotel in Liverpool.
The European company has sold its share to partner Cycas Hospitality.
Cycas Hospitality will continue to manage the 132-bedroom hotel that targets the long-stay consumer, which is located on the Kings Waterfront, opposite the Albert Docks.
The property recently won Serviced Apartment of the Year 2015 at the Liverpool City Region Awards.
Patron Capital owns Generator Hostels in London, Paris, Berlin, Barcelona and Amsterdam, among others, with new properties in Stockholm and Rome coming very soon.
It caused a stir when the brand first hit the market in 2011 for offering a quirky, trendy, sociable place to stay in prime locations across the world.
Commenting on the transaction, Camil Yazbeck, investment director of hospitality and leisure at Patron Capital, said: “At Patron, we believe in backing management teams and this deal highlights our strong relationship with Cycas, with whom we previously partnered to develop, manage and sell two hotels at the gateway to London’s Olympic Park in Stratford. This latest hotel transaction follows our sale of Jupiter Hotels late last year.”
Patron’s other hospitality investments include Luxury Family Hotels and The Spencer Hotel in Dublin.