Patrizia Immobilien sells Melia's Innside Manchester

Innside Manchester, a four-star hotel in the Northern English city's First Street development, has been sold for £30.45 million by owners Patrizia Immobilien AG to a privately owned UK group.

The sale of the 208-room hotel, operated by Melia International under its Innside brand, was agreed at a yield of 4.85 percent on 25-year lease to Melia, the Manchester Evening News is reporting.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

Patrizia purchased the hotel as part of its acquisition of the First Street site in Manchester in May 2015. The site is a 20-acre development that includes office, residential, retail and leisure components. Notably, this sale is the first at the development. 

Further First Street development phases will provide a new commercial neighbourhood for Manchester with a total of almost 1m sq ft of sustainable, campus-style office buildings, alongside a new residential neighbourhood of up to 500 PRS apartments.

Suggested Articles

During the first day of Hotel Optimization Part 2, panelists discussed employee wellness and finding new sources of business.

Hospitality sector recovering as economy reopens. Hotels, along with other commercial properties, began to see rising foot traffic in late Spring.

Soon-to-open hotels in California and Michigan have announced their debut general managers and directors of sales.