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The Blackrock UK Property Fund has acquired a new 178-bedroom Hilton Garden Inn, located at Birmingham Airport, for an undisclosed sum.
The newly constructed hotel has been sold under management contract with Castlebridge Hotels, which will retain operational responsibility under a franchise agreement with the Hilton Garden Inn brand.
Paul Tebbit, portfolio manager Blackrock UK Property Fund, said: “The Hilton Garden Inn, Birmingham Airport provides all the characteristics which we were seeking in a hotel investment.
“The exciting news that Birmingham will be host city to the Commonwealth Games will also strengthen performance during 2022, as well as the ongoing attraction of the National Exhibition Centre. We look forward to working with the Castlebridge Hotels team to unlock the future trading potential from the hotel.”
Jenna Dienn, of Castlebridge Hotels, added: “The Hilton Garden Inn, Birmingham Airport will benefit from an excellent mix of both corporate and leisure demand generators. We are delighted to have agreed terms with Blackrock which will allow Castlebridge to retain management of the hotel and extends our properties under management to 6 hotels and 694 rooms across Europe.”
