Axiom Hospitality been selected to operate the Holiday Inn Hotel at the heart of MediaCity in Manchester.
The 218-room hotel changed hands last year as part of Landsec’s acquisition of Peel group’s remaining stake in the estate towards the end of last year, with the real estate investment trust acquiring the asset free from management and subject to the ongoing franchise agreement with IHG under the Holiday Inn brand.
Following an operator selection process run by Knight Frank, Axiom Hospitality - which has a portfolio of 33 hotels across the UK - has been selected to operate the hotel on a ‘hybrid’ management lease.
Landsec was advised by CMS and Knight Frank. Axiom Hospitality were advised by Wordsmith Law LLP.
What they said
Chris Field, associate, hotel agency at Knight Frank said: “This lease structure will deliver the income required by a REIT while also creating a strong incentive for owner and operator to work together to drive trading performance. Axiom Hospitality are one of the leading third-party operators of premium hotels across the UK and we believe they are a suitable partner to work alongside Landsec to create a new popular destination and focal point at the heart of MediaCity.”
Chris Reay, regional asset & leasing director at MediaCity added: "MediaCity has huge potential. Since Landsec acquired the remaining stake last November, we're focused on building on its success as the UK’s leading creative, tech and digital hub. By investing in its quality of place, including appointing a best-in-class hotel operator for the Holiday Inn that serves the many visitors to MediaCity, and enhancing the residential and workplace offer, we can provide the full package to the media industry.”
Jamie Lamb, co-CEO at Axiom Hospitality added: “We are delighted Holiday Inn Manchester MediaCityUK has joined our growing portfolio and we have been successful in partnering with Landsec. Located within easy access to Old Trafford stadium and the city centre, this hotel is the ideal base for visiting Manchester and we are looking forward to welcoming guests for city stays or meetings and events.”