Maven's ibis Styles hotel opens in Glasgow's Merchant City
Maven has completed its latest hotel development, an ibis Styles boutique hotel in Glasgow’s Merchant City, which offers 101 guest rooms and also features a restaurant and bar. Following a £7 million refurbishment, the hotel is already achieving high occupancy rates, fully booked for two nights in its opening week and with significant demand for the months ahead.
Ramsay Duff, Investment Director at Maven, who led this deal, said “This is a really attractive location, in one of the UK’s strongest performing hotel markets, ideally positioned just off the vibrant George Square area of Glasgow, and able to cater to the considerable business, tourism and leisure trade Glasgow enjoys. We are delighted to have been able to identify, structure and complete another high quality investment for our investors within our growing hotel and general property portfolio. Our nationwide property team is focused on finding compelling new opportunities in the commercial property market, including hotels and student accommodation, across the UK”.
This latest addition to Maven’s hotel portfolio follows the 100-bedroom £13.75m boutique hotel Indigo project currently being developed in central Cardiff, with a rooftop Marco Pierre White Steakhouse Bar & Grill. Maven is also invested in the hotel Indigo in Glasgow which opened in 2011 and enjoys consistently high occupancy rates, and the 82-bedroom Travelodge in Llandudno, which opened recently following a comprehensive refurbishment.
The ibis Styles brand is renowned for telling the individual stories of the host city for each hotel. Notably the contemporary design is inspired by Glasgow’s unique personality, history and culture, blending creative flair and a touch of humour throughout, with tributes to the Duke of Wellington’s iconic cone hat and Billy Connolly’s banana boots, and is set to become a popular venue in one of the UK’s most popular business and tourist destinations.
Redeveloped from a formerly vacant office building in the Merchant City, the ibis Styles is part of the global Accorhotels group, and will be managed by Redefine|BDL, one of the UK’s leading independent hotel management companies.