UK: Patron Capital has sold its stake in the Staybridge Suites Liverpool to its partner Cycas Hospitality.
Cycas Hospitality will continue to manage the
132-suite extended-stay hotel, which is located on the Kings
Waterfront, opposite the ECHO Arena, BT Convention Centre and
Albert Docks. Recently it won Serviced Apartment of the Year
2015 at the Liverpool City Region Awards.
Camil Yazbeck, investment director of hospitality and leisure at Patron Capital, said: "At Patron, we believe in backing management teams and this deal highlights our strong relationship with Cycas, with whom we previously partnered to develop, manage and sell two hotels at the gateway to London's Olympic Park in Stratford. This latest hotel transaction follows our sale of Jupiter Hotels late last year."
Eduard Elias, founder and partner at Cycas Hospitality, said: "As one of the market leaders in the extended stay hotel sector in Europe we are delighted to acquire the stake in Staybridge Suites Liverpool from our partners, Patron Capital. It is an exceptionally well-performing asset and we see significant opportunity for growth in the years to come."