Hotel Indigo Glasgow is up for sale in IHG franchise deal

Hotel Indigo Glasgow, Scotland, image courtesy of IHG.

Glasgow's private equity manager, Maven Capital Partners, put the city's Hotel Indigo on the market. A franchise agreement with InterContinental Hotels Group is included in the deal for the 94-room hotel. 

Real estate advisers JLL and Cushman & Wakefield are marketing the hotel on Maven's behalf. “The hotel has a prominent city center location... and next to major retail and leisure areas with a loyal corporate and leisure client base which drives a consistent, strong trading performance. We expect significant interest from investors looking to tap into Glasgow’s burgeoning hospitality market,” Neil Milligan, surveyor at JLL’s hotels and hospitality group, told The Herald Scotland. 

The Hotel Indigo is in the center of Glasgow's financial services district near the SSE Hydro Arena and the city's two main train stations. The Victorian building was originally Glasgow's first power station. It was later converted from offices into a hotel 2010 and currently undergoing a renovation, which is set to be complete in early 2017. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

IHG opened the hotel in mid-2010 through a franchise agreement with Chardon Management, a long-time IHG partner for more than 15 years. The Hotel Indigo joined six other properties in the IHG's portfolio for the city: Holiday Inn Glasgow-City Ctr Theatreland, Holiday Inn Glasgow-East Kilbride, Holiday Inn Glasgow Airport, Holiday Inn Express Glasgow Airport, Holiday Inn Express City Centre Riverside and Crowne Plaza Glasgow. 
 
The most recent Hotel Indigo opening in the UK was the Hotel Indigo-London Leicester Square. The 95-room property opened in late 2017 in the center of London's West End through a franchise agreement with Criterion Capital. The brand had a portfolio of 22 hotels in Europe and another 18 in the region's development pipeline, as of late. 

Suggested Articles

The company expects to open more than 30 new Comfort properties in the market by 2033 via its existing franchising agreement with Choice Hotels Japan.

While consolidated revenue for the quarter was up 10.9 percent as reported, it was up 4.1 percent on a like-for-like basis compared to Q3 2018.

Sam Schwartz has spent more than four years with First Hospitality, including most recently as a general manager.