Sir Rocco Forte has sold the five-star Lowry Hotel in Chapel Wharf, Manchester, to Westmont Hospitality Group and its investment partner Mount Kellett Capital Management.
The 165-bedroom hotel is understood to have been sold for circa £45m.
The Lowry, which opened in 2001, will undergo a selective programme of refurbishment.
The sale comes after Forte pulled its offer of the Lowry Hotel in August 2013. Offers fell short of the £45m asking price.
Christie + Co acted for Forte.
annabel.dixon@estatesgazette.com
