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Crowne Plaza Hotel in Manchester Changes its Owner

News Crowne Plaza hotel in Manchester, a popular accommodation in one of the largest cities in the UK, has changed its owner. The property was purchased by London & Regional (also known as L&R), who had made the winning bid in the auction. Now the hotel is out of administration. The sum of the deal estimates £35m (US$54.9 million).

This is not the first hotel in the portfolio of L&R – the company works primarily with properties and is the owner of three Hilton hotels in London. The company’s principals, Ian and Richard Livingstone, are also the owners of two very popular hotels – Cliveden and Chetwton Glen. The hotels are known as the leaders in the country hotel segment.

As Jeremy Jones, the director of corporate hotels at Christie & Co., mentions the demand for this hotel was really high. Christie & Co., which made the sale on behalf of the previous owner, got several enquiries concerning this property and the final price was really bid thanks to a highly competitive bidding. This was totally expected though, as Crowne Plaza is a profitable property managed by InterContinental Group, one of the leading hotel management companies of the world.


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