Five-star treatment on cards for Grand French company snaps up iconic city hotel
BIRMINGHAM could be in line for its first five-star hotel, complete with a rooftop infinity pool overlooking the city’s cathedral.
The planned new hotel in Birmingham’s famous Grand building has moved a step forward after the site was bought by French investors.
Paris-based Foncière des Régions has spent £858 million on 14 fourand five-star hotels operated by Principal Hotel Company in the UK.
It was announced a year ago that Principal would work in partnership with the building’s owner, Hortons’ Estate, to operate a new 180-bedroom hotel.
The restored Grand is due to open in early 2019.
Principal specialises in opening venues in landmark city centre buildings and plans to have an infinity pool atop the iconic listed address.
Despite its huge tourism economy and being a popular destination for business and political conferences and weekends breaks, Birmingham does not yet have a five-star hotel.
It is still not known at this stage exactly what facilities the new hotel will offer but the new investment raises the prospect that it could be the city’s first with the accolade. The Grand is a striking landmark in the city and in recent years its shops and bars on Colmore Row have become a nighttime destination of choice for many.
It has already benefited from millions of pounds worth of investment by both Hortons’ Estate and the public purse, and the long-running regeneration has welcomed bars The Alchemist and Gusto and retailers Up & Running and Cycle Republic among new openings.
Dominique Ozanne, deputy chief executive of Foncière des Régions, said: “Foncière des Régions is continuing its strategy to move upmarket in the hotel real estate industry.
“This acquisition is an opportunity to duplicate the development strategy already rolled out in France, Germany and Spain, where Foncière des Régions is the preferred partner of active operators on these markets.
“This transaction will help Foncière des Régions cement its leading position on the hotel real estate investment market in Europe.”