Maven Capital increases investment in Cardiff Hotel Indigo

George Sell George Sell Uploaded 21 September 2016

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UK: Private equity investor Maven Capital Partners is increasing its investment in the £13.75 million Hotel Indigo in Cardiff.

UK: Private equity investor Maven Capital Partners is increasing its investment in the £13.75 million Hotel Indigo in Cardiff.

The company will provide an additional £3.1 million of funding for the development development.

A proposed extension and reconfiguration is expected to add close to £4 million to the anticipated sale value of the hotel and an additional 22 rooms will be created. Revised designs have made use of additional space on the basement, ground and second floors and the reception area and main entrance will be relocated to the ground floor, thereby increasing the hotel's visibility and enhancing the guest arrival experience. The designs have also incorporated a dedicated entrance and lift to the Marco Pierre White rooftop restaurant and bar.

Funding for the project included a £1.6 million equity raising from Maven's UK-wide syndicate of investors which span high net worth individuals, wealth managers and family offices, with the remaining £1.5 million funding by debt.

Maven has also invested in Hotel Indigo properties in Glasgow and Durham. Hotel Indigo Cardiff will be managed by Redefine BDL Hotels.

Ramsay Duff, investment director at Maven, said: "We are delighted to have identified this opportunity to extend and improve the Hotel Indigo Cardiff and enhance the value of the development for our UK-wide co-investor network. By reconfiguring the hotel and relocating the main entrance to the ground floor, we will improve Hotel Indigo's brand visibility within this key tourist and business destination, and enhance the guests' overall experience during their stay. The Welsh capital is one of the most vibrant cities in the UK and we are delighted to be involved with such an exciting investment, working with high quality brands such Indigo Hotels and Marco Pierre White, to take advantage of the growing tourism, leisure and trade opportunities that Cardiff provides."

www.mavencp.com

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