7 Aug 2015 17:29
For immediate release 7 August 2015
Proposed Acquisition of Hard Days Night Hotel, Liverpool
Millennium & Copthorne Hotels plc ("M&C") is pleased to announce that today it has, through subsidiary companies, agreed to acquire a long leasehold interest in the Hard Days Night Hotel in Liverpool for £13.8m in cash, subject to standard purchase price adjustments. The Beatles-inspired hotel, which contains 110 guest rooms and suites, is located within the popular Cavern Quarter of the city. Over 113 years remain in the lease with Liverpool City Council.
Completion of the acquisition is expected to occur on or before 19 August 2015.
Kwek Leng Beng, Chairman of M&C's Board of Directors, commented: "This unique acquisition, which will be supported by M&C's existing management infrastructure, further expands the Group's hotel portfolio to one of the leading leisure and business destinations in the UK. The city is undergoing an economic regeneration and we are proud to be a part of that."
Enquiries:
Millennium & Copthorne Hotels plc Tel: +44 (0)20 7872 2444
Aloysius Lee, Group Chief Executive Officer
Jonathon Grech, Group General Counsel and Company Secretary
Peter Krijgsman, Financial Communications (Media)