Stellar Leeds has sold the Holiday Inn Express Leeds City Centre - Armouries to Starboard Hotels, bringing the buyer's UK portfolio to 10 hotels.
The 130-room hotel had been on the market for offers higher than £8 million, but no purchase price was announced. "This is a strategic acquisition for Starboard, being our 10th hotel, our third Holiday Inn Express and our third hotel in Yorkshire," Paul Callingham, managing director of Starboard Hotels, said.
The hotel will continue operating as a Holiday Inn Express and will be managed by Starboard Hotels under franchise from IHG. The new owner has announced plans to renovate the property.
The purchase comes just as Leeds' South Bank is undergoing a "regeneration" that will include a new rail hub linking London and the North of England. "The regeneration plans for the area mean our investment has come at exactly the right time for the hospitality sector in the city," Callingham said.
Sources: Insider Media, Yorkshire Post