Maven backed Hotel Indigo Cardiff opens doors to guests
£17.5m development includes 122-bed boutique hotel and Marco Pierre White restaurant in Cardiff’s Queen Street
Maven is delighted to announce the opening of Hotel Indigo Cardiff, following its investment in the £17.5m 122-bed boutique development. Hotel Indigo is located in Queen Street, close to the city’s central business district, where major attractions include Cardiff Castle and the Principality Stadium, and key transport links.
Formerly a 6,000m2 office block, Maven investors have funded the transformation and redevelopment of this attractive building into a boutique hotel with 122 bedrooms, as well as enhancing the original Dominions arcade beneath the hotel, which now includes the hotel reception and lounge, and a dedicated entrance and lift to the Marco Pierre White restaurant on the top floor.
Cardiff has been one of the strongest performing hotel locations in the UK over the past three years and recent data estimates that tourism’s total economic contribution to the city in 2016 was about £1.2bn. Driven by a strong and growing demand for leisure and sport, the city is also recognised as a key business destination and is benefitting from the Welsh Government’s commitment to increase Cardiff’s profile as an international business centre.
Hotel Indigo is the boutique hotel brand of InterContinental Hotels Group (IHG), one of the largest hotel companies in the world, with 60 Indigo Hotels worldwide, including the successful Hotel Indigo Glasgow and the current development of Old Shire Hall in Durham, which are already part of Maven’s investment portfolio. Maven’s property business now manages a UK wide portfolio, including hotels, student accommodation and office refurbishments, which has expanded significantly in recent years to include 19 investments with a combined Gross Development Value in excess of £250m.
Hotel Indigo Cardiff is managed by Redefine|BDL Hotels (RBH), the UK’s leading hotel management company, which already manages a number of properties within Maven’s hotel portfolio.
Paul Johnston, Investment Director at Maven, said: “We are delighted to have completed the conversion of this former office block into an attractive new hotel in Cardiff city centre, which will benefit from Hotel Indigo’s brand visibility within the UK, and to be working with high quality brands such as IHG and Redefine|BDL Hotels. The Welsh capital is an increasingly popular tourist and business destination and has been one of the strongest performing hotel locations in the UK in recent times. This investment offered an attractive opportunity for Maven investors, and we will continue to explore investment opportunities in new and exciting markets.”
John Stuart, Chief Operating Officer at Redefine|BDL Hotels, said: “We’re thrilled that Hotel Indigo Cardiff and Marco Pierre White’s Steakhouse Bar and Grill are now open, and are thoroughly looking forward to guests experiencing this landmark development. We are delighted to be working with Maven and IHG on another successful project.”