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A consortium comprising Heeton Holdings, KSH Holdings and Lian Beng Group, has acquired Hotel Indigo Glasgow in Scotland for an undisclosed amount.
Heeton holds a 60 percent stake in the consortium, while KSH and Lian Beng both own a 20 percent stake.
To operate under a franchise agreement with the InterContinental Hotels Group, the five-storey hotel features 94 rooms and will be managed by the hotel management firm, Interstate.
Heeton CEO Eric Teng noted that the hotel is the consortium’s first hospitality asset in Scotland and Heeton’s second.
“Conveniently located at the heart of Glasgow city, this is an excellent addition to our existing boutique hotel portfolio in the UK. With this upmarket lifestyle brand – The Indigo, the consortium has achieved another success with its new hotel range and the expansion beyond England into other regions,” said KSH executive chairman and managing director Choo Chee Onn.
Lian Beng executive chairman and managing director Ong Pang Aik said they were “encouraged by the progress that the consortium has made so far”.
“With Interstate as the hotel operator, we are confident that this acquisition will prove to be a valuable asset in our portfolio. We are looking forward to more of such ventures with our consortium partners in the future,” he added.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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