Rocco Forte Hotels has placed its 165-bedroom five-star Lowry hotel in Manchester on the market for more than £40m.
The luxury hotel group, which is owned by hotelier Sir Rocco Forte, owns and operates 11 hotels in Europe and hopes to retain a management contract to run the Manchester hotel under its new owners.
The hotel was first placed on the market in 2007 with a £50m price tag. But after six years in which no offer was accepted, the hotel was taken off the market last July. It is now being marketed by Christie + Co and is believed to have already attracted considerable interest.
Once sold, the funds from the sale are expected to help fund Rocce Forte Hotel’s expansion into Europe.
Rocco Forte Hotels also currently own and manage 2 other hotels in the UK; Brown’s hotel in London and the Balmoral in Edinburgh. It also has in Brussels, Frankfurt, Berlin, Munich, Rome, Florence and Sicily.