Magenta Hotels makes first Northern acquisition

The Diamond Lodge off Hyde Road in Belle Vue has been sold by Stephen and Christine Smith to Magenta Hotels.

Sold for an undisclosed fee, the hotel had been on the market with an asking price of £3.95m. The 88-bed hotel’s deal was brokered by Christie & Co.

The acquisition is the first step Magenta Hotels has taken into the North West market.

Each of the rooms has an ensuite bathroom, while amenities include a lounge, restaurant, a bar, and sufficient parking.

The vendors, Stephen and Christine Smith, acquired the property in 2002 for £1.9m, but have sold it as they enter retirement.

Magenta Hotels has a growing UK portfolio, with ownership of Best Western London Heathrow Ariel Hotel, Mercure in Dartford, and Marks Teys Hotel in Colchester.

Rohit Lakhanpaul, company director at Magenta Hotels, said: “We’re thrilled to have acquired Diamond Lodge.

“This investment underscores our commitment to securing hotels in key locations throughout the UK.

“Manchester is a vibrant city, and Diamond Lodge will be an integral part of our expanding portfolio.”

Tom O’Malley, associate director of Christie & Co., said: “We ran a competitive process on behalf of the owner, receiving multiple offers from a range of buyer types, resulting in a sale to an expanding UK hotel group

“The level of interest received underlines the appetite in the market for limited service ‘bedroom factories’ in and around city centres.”