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Novotel Liverpool Centre acquired by Algonquin and a Group of Investors

Algonquin announced the acquisition, along with a Group of Investors, of the 4-star, 209-room Novotel Liverpool Centre hotel for £13.5 million - €17 million.

Algonquin announced the acquisition, along with a Group of Investors, of the 4-star, 209-room Novotel Liverpool Centre hotel for £13.5 million. The hotel has been acquired from Joint Administrators David Oprey, Richard Toone and Adrian Hyde of Chantrey Vellacott DKF.

The hotel opened in November 2009 in a newly-built building. It comprises 209 rooms featuring the latest Novotel design and fit-out. It benefits from an interconnecting bar and restaurant, leisure facilities including an interior pool and fitness room, as well as 310 sqm of conference and banqueting facilities.

The hotel is leased to Accor who will continue to operate it under the Novotel Brand. "This is our fourth hotel operated by Accor in the United Kingdom, and we are delighted to further strengthen thisrelationship", said Stéphane Obadia, Head of Acquisitions and Development for Algonquin.

Algonquin's extended perimeter now includes 32 hotels (4,600 rooms, including 590 rooms in the UK)."This new acquisition is in line with our focus to build our portfolio in high-growth regional markets ofthe UK. We will seek to secure a growing number of opportunities as the UK hotel market continues itspromising recovery", said Jean-Philippe Chomette, Founder and CEO of Algonquin.
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