Manchester’s most famous hotel has been sold in a deal worth £115m.
The new owners are Swedish investment company Pandox and Fattal Hotels Group which bought the Jury’s Inn chain for £800m last year. The group has promised to invest £11m in the 312-room hotel.
Manchester’s flagship hotel will also join the Leonardo Hotels group, owned by Fattal, although it will keep its famous name.
The Midland is home to Adam Reid at the French, considered by many to be the city’s best fine dining restaurant.
Real estate investment company Aprirose bought the hotel in September last year when it purchased conference hotel specialists Q Hotels from its private equity owners for £525m in what was the biggest deal for UK hotels last year.
The hotel was built in 1903 by the Midland Railway to serve Manchester Central railway station.
The hotel has two restaurants, 14 conference and meeting rooms, and a spa and gym.
David Fattal, Chief Executive of Fattal Hotels Group, said: “This fantastic acquisition of Manchester’s Midland hotel represents a huge step forward in our ambitious growth strategy in the UK.
“The reputation of the hotel speaks for itself and with this, we have the opportunity to further expand and strengthen the depth and breadth of our portfolio.”