Hotel Indigo Cardiff opens its doors
The new venture is located on Queen Street, close to the city’s central business district where major attractions include Cardiff Castle, the Principality Stadium and key transport links.
The site was formerly an office block, but Maven investors have funded the transformation and redevelopment of the building into a boutique hotel with 122 bedrooms.
The original Dominions arcade beneath the hotel has been retained and enhanced and now includes the hotel reception and lounge as well as a dedicated entrance and lift to the Marco Pierre White restaurant on the top floor.
Cardiff has been one of the strongest performing hotel locations in the UK over the past three years and recent data estimates that tourism’s total economic contribution to the city in 2016 was about £1.2bn.
Driven by a strong and growing demand for leisure and sport, the city is also recognised as a key business destination and is benefitting from the Welsh Government’s commitment to increase Cardiff’s profile as an international business centre.
Hotel Indigo is the boutique hotel brand of InterContinental Hotels Group, one of the largest hotel companies in the world, with 60 Indigo Hotels worldwide, including the successful Hotel Indigo Glasgow and the current development of Old Shire Hall in Durham, which
Maven’s property business now manages a UK wide portfolio, including hotels, student accommodation and office refurbishments, which has expanded significantly in recent years to include 19 investments with a combined Gross Development Value in excess of £250 million.
Hotel Indigo Cardiff is managed by Redefine BDL Hotels, a hotel management company which already manages a number of properties within Maven’s hotel portfolio.
Paul Johnston, investment director at Maven, said: “We are delighted to have completed the conversion of this former office block into an attractive new hotel in Cardiff city centre.
“It will benefit Hotel Indigo’s brand visibility within the UK and we are thrilled to be working with high-quality brands such as IHG and Redefine BDL Hotels.
“The Welsh capital is an increasingly popular tourist and business destination and has been one of the strongest performing hotel locations in the UK in recent times.
“This investment offered an attractive opportunity for Maven investors, and we will continue to explore investment opportunities in new and exciting markets.”
“We are delighted to be working with Maven and IHG on another successful project.”
Maven Capital Partners UK LLP (Maven) is an independent private equity and property manager with over £415 million of assets across a variety of client funds, including Venture Capital Trusts, government and local authority backed regional debt and equity funds, and Maven Investor Partners.
Published: 30 November 2017