Newcastle hotel near Quayside, Millennium Bridge and BALTIC Centre bought as part of ambitious £150m portfolio
A Newcastle hotel has been bought as part of a company’s strategic entry into the UK extended-stay hotel market.
ECE Work & Live has snapped up two extended-stay hotels in Liverpool and Newcastle - both in landmark locations - as part of its "opportunistic approach of investing in smaller UK hotel properties".
The business has swooped for Staybridge Suites in Liverpool and Newcastle, which form part of the IHG brand. The purchase lays the foundation for its planned strategy in the British hotel market, which it is working on with Maya Capital.
Staybridge Suites Liverpool opened in 2008 and was last modernised in 2017. It has 132 rooms spread over seven floors and is located directly on the waterfront, just a few minutes from James Street metro station.
The Staybridge Suites Newcastle is close to the Manors metro station and sits within walking distance of the Quayside waterfront, Millennium Bridge and BALTIC Centre. It opened in 2009 and was modernised in 2024.
The site comprises 128 rooms across seven floors. Both hotels are managed by Cycas Hospitality. The intention of ECE Work & Live is to build a portfolio of 7-8 medium-sized hotels in regional UK cities outside London with a total volume of up to GBP 150 million.
Jan-Hendrik Walloch, managing director investment at ECE Work & Live said: "The acquisition of the two Staybridge Suites hotels in Liverpool and Newcastle is part of our opportunistic approach of investing in smaller UK hotel properties that are often overlooked by institutional investors due to their size.
"Extended-stay concepts in particular are in high demand in the UK and offer attractive recurring yields. We see this as an excellent opportunity to build a portfolio with significant upside potential."
David Pralong, managing director at Maya Capital, added: "With this partnership, we are combining our expertise and resources to create value in a hotel segment that we believe has a bright future and continues to demonstrate strong operational performance."
ECE Work & Live was advised on the transaction by Savills.