Singapore investor signs deal for Manchester University hotel

Singapore-based investment group M&L Hospitality has agreed to a 125-year lease with the University of Manchester in the UK to build a 19-story hotel as part of its £1-billion campus master plan, reports The Business Desk.

Built next to Manchester Business School, the 326-room hotel will include a restaurant, bar, conference facilities and gym. It will be the only hotel on the main University of Manchester campus.

The new investment is M&L Hospitality’s first in Manchester. It acquired two hotels in London in 2012 and also assets in Singapore, Australia, Japan and New Zealand.

Virtual Event

Hotel Optimization Part 3 | Available On Demand

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event, now available on demand, for expert panels focused on getting you back to profitability.

Neil Maxwell, CEO of M&L Hospitality, said: "We are always exploring investment opportunities that have the potential to deliver stable and attractive returns. The UK hotel market continues to achieve solid performance and we are excited about the growth of internationally branded hotels here.

"The new hotel complex will be a valuable campus amenity for Manchester Business School, the University and nearby facilities such as the Manchester Science Park, the Central Manchester University Hospitals and the many cultural assets and arts venue along the Manchester Corridor. We are looking forward to the start of construction and the launch of our next project in the UK."

Manchester-based Bruntwood will develop the hotel on behalf of M&L Hospitality. Cycas Hospitality, which is M&L’s operator for their Stratford City hotels in London, will manage the property.

A spokeswoman for M&L could not confirm the operator of the new hotel. Last year Manchester council approved plans for the 19-story hotel at the site. At that stage it was to be operated by InterContinental Hotels Group under its Crowne Plaza and Staybridge Suites brands.