The newly-formed Belfont Hotels - a joint venture owned by the Thakerar and Dhamecha families - has acquired The Cosmopolitan Hotel in Leeds for an undisclosed fee.
Belfont planned to add other hotels within key cities around the UK.
Jeremy Jones, head of hotels brokerage at Christie & Co, who handled the sale, said: “When we launched The Cosmopolitan to the market earlier this year, we received a huge response from a whole range of parties. To be announcing the sale of such a substantial hotel at this time is evidence of the very real activity Christie & Co is seeing across the whole of the UK. Watch out for the announcement of further hotel sales in the weeks ahead. We wish the team at Belfont Hotels all the very best with their first hotel.”
On behalf of Belfont Hotels, Keval Thakerar, said: “We are excited to have secured such a diverse hotel as The Cosmopolitan. Leeds city centre generates such strong corporate and leisure demand across the year and, once our investment has been undertaken, we will have one of the best hospitality venues in the city.”
Akshay Dhamecha added: “We look forward to working with the Thakerar Family on our first hotel acquisition and further growing the Belfont Hotel portfolio. The Cosmopolitan is a landmark building in the heart of the city and with further investment to the hotel, we are confident the hotel will be very popular. We are glad to have Countrywide Hotels as our management team where their experience has proved paramount.”