Swedish hospitality company Pandox has announced its plan to buy English accommodations, the Midland Hotel in Manchester for 115 million pounds ($151.8 million) from UK-based real estate investment company Aprirose.
The hotel will retain its name following the acquisition. In addition, Midland will receive an investment of $14.4 million for renovations.
Pandox is being partnered in the transaction with Israeli hospitality company Fattal Hotels Group through its flagship hotel brand Leonardo Hotels.
Fattal Hotels Group said that this acquisition of Manchester’s Midland Hotel represents a huge step forward in its ambitious growth strategy in the UK.