Penningtons Manches Cooper advises St James Hotel Limited on acquisition of ibis Styles George Square hotel in Glasgow

Penningtons Manches Cooper’s corporate team has advised hospitality group St James Hotel Limited, and its indirect subsidiary Miller Street Hotel Limited, in connection with the acquisition of the ibis Styles Glasgow Centre George Square hotel from Maven Capital. 

The transaction involved the purchase of shares in MCTH (Trading) Limited, the company operating the hotel.

The 101-bedroom hotel was developed by Maven clients in 2014 and opened in September 2015. Since launch, the hotel has traded strongly under the ibis Styles brand, part of the Accor group.

St James Hotel Limited is part of a well-established hospitality group with a portfolio of high-quality hotels across the UK, known for delivering exceptional guest experiences and investing in strategic locations.

The Penningtons Manches Cooper team was led by corporate partner Mona Patel, and was supported by associate Emily MacDonald and trainee Tom Morris. The team also included corporate tax consultant Stephen Goldstraw.

Commenting on the transaction, Mona Patel said: “We are delighted to have supported St James Hotel Limited on this acquisition, which strengthens their presence in the Scottish hospitality market. It’s always rewarding to help our clients achieve their strategic goals and we look forward to seeing the group grow further in the future.”