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Bridges Ventures sells The Hoxton Hotel

Bridges Ventures has sold The Hoxton Hotel to Ennismore Capital for a sum believed to be around £70m (€87.7m).

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Bridges Ventures has sold The Hoxton Hotel to Ennismore Capital for a sum believed to be around £70m (€87.7m).

The firm first invested in The Hoxton in 2004 as a start-up concept and financed its construction and growth. It has won a slew of industry awards and consistently achieved 90 per cent occupancy rates for its 208 rooms.

The exit will deliver a £13.3m return to Bridges Ventures, representing a return of 8x for its first Sustainable Growth Fund and a 3.4x gain for its second vehicle. 

A statement from Bridges Ventures claims the hotel “played a critical part in the regeneration of Shoreditch and Hackney".

Picture: Source