Convex exclusively managed, structured and completed the sale of the Eclectic Hotel Group, comprising King Street Townhouse and Great John Street Hotel, to The Hut Group, the £4bn online retailer of luxury beauty and health products, in a transaction worth £48m.
The Eclectic Hotel Group is a selection of independent, luxury townhouse hotels, located in the heart of Manchester, providing outstanding levels of hospitality and unrivalled experiences for accommodation, dining, meetings, weddings and events. The Business was founded by, husband and wife team, Eamonn and Sally O’Loughlin in 1999.
The hotels are consistently ranked within the top 3 hotels in Manchester. The freehold properties represent buildings of rich history, each individually styled with their own personality and transformed into eclectic townhouses, offering 70 rooms and modern facilities.
In the financial year ended March 2019, the hotels reported revenues of c.£9m.
