The Aloft Liverpool hotel has been acquired by Fragrance Group for an undisclosed sum, following an invitation for offers at a guide level in the region of £12 million.
Located in Liverpool city centre, the hotel was originally built around 1900 and used as the head office of the Royal Insurance Company. It was subsequently restored and converted to the four-star 116-bedroom hotel it is today.
The Aloft franchise is part of Marriot Group, but the hotel will continue to be operated by RBH Hospitality Management.
The move comes as The Fragrance Group continues its expansion into the hotel market and the sale was completed by joint agents Colliers and CBRE, on behalf of North John Street LLP.
Julian Troup, Head of Hotels Agency at Colliers said: “Our instructions were to proceed in a confidential manner, and unsurprisingly significant interest was soon generated in this iconic hotel. The considerable level of interest follows a pattern of increasing demand for UK provincial hotels, particularly for global branded stock, and as a result a competitive bidding process was run amongst several overseas and domestic bidders. The sale of the Aloft adds to the high volume of our UK hotel sales that have been concluded during the year and demonstrates the increasing confidence from a diverse range of buyers.“
Martin Rogers of Global Hotels & Leisure Consultancy, who represents The Fragrance Group commented: “This was another strategic acquisition for The Fragrance Group in the UK. Mr Koh first visited Liverpool in 2018 and subsequently purchased The Municipal Building from Liverpool City, which we are now converting into a luxury 186-bedroom Hotel due to open in October next year. We are delighted to again work alongside RBH Hospitality Management who already operate six hotels in the UK for the Group.”
Shaun Skidmore, Senior Director of Operational Real Estate at CBRE, said: “We undertook a robust process utilising our UK and overseas platform to conclude the sale on behalf of North John Street LLP. The acquisition of this prestigious asset by Fragrance Group demonstrates the continued appeal of Liverpool’s vibrant hospitality scene and will further enhance their growing portfolio.”