A new ibis Styles boutique hotel has opened its doors in Glasgow’s Merchant City following a £7 million redevelopment.
It’s the latest offering from Maven Capital Partners, a UK private equity and property investment management specialist, featuring 101 guest rooms, restaurant and bar.
According to Maven, the hotel is already achieving high occupancy rates – having been fully booked for two nights in its opening week and with significant demand for the months ahead.
Investment director Ramsay Duff 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 £13.75 million boutique hotel Indigo project currently being developed in central Cardiff, with a rooftop Marco Pierre White Steakhouse Bar & Grill.
Maven has also recently invested in Glasgow’s popular hotel Indigo, which opened in 2011, as well as the 82-bedroom Travelodge in Llandudno, which opened recently following a comprehensive refurbishment to retain its historic façade.
Maven says the ibis Styles brand is renowned for telling the individual stories of the host city for each hotel.
In this case, the contemporary design is inspired by Glasgow’s unique personality, history and culture, blending creative flair and a touch of humour, with tributes to the Duke of Wellington’s iconic cone hat and Billy Connolly’s banana boots.
Transformed from a vacant office building in the Merchant City, 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.