Aprirose sells Queens hotel in Leeds for £53m

17 February 2023 by
Aprirose sells Queens hotel in Leeds for £53m

The 232-room Queens hotel in Leeds has been sold in a £53m deal.

Real estate investment company Aprirose has sold the city centre property, a well-known landmark in Leeds, to European hotel owner Pandox.

The deal includes both the property and hotel operations.

Aprirose bought the Queens hotel in 2017 as part of a package of 26 QHotels sites for £525m.

It invested £16m in refurbishing the property in 2021 and opened the Grand Pacific restaurant at the hotel in partnership with Living Ventures.

Manish Gudka, chief executive of Aprirose, said: "Having followed our investment with a substantial and carefully considered capital expenditure programme to reposition the hotel, we have created value and generated a good return for our investors, exemplifying our overall approach to real estate investment.

"The hotel and leisure sector remains an important focus for our business, and we continue to look for opportunities to deploy our capital in high-quality, well-located buildings in growth areas."

Aprirose's hotel management arm Almarose manages 20 properties within the Qhotels Collection, including sites under the DoubleTree by Hilton and Mecure brands.

The group also manages 14 individual hotels, including Oulton Hall in Yorkshire and Slaley Hall hotel and luxury golf resort in Northumberland.

In 2018 Aprirose invested in lifestyle hotel concept Birch, and continues to support its expansion.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking