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UK: German real estate developer ECE Work & Live has partnered with investment firm Maya Capital to purchase two Staybridge Suites in Newcastle and Liverpool.
The two properties, managed by Cycas Hospitality, represent 260 rooms.Â
The Staybridge Suites Liverpool opened in 2008 and offers 132 rooms across seven floors. The Staybridge Suites Newcastle opened in 2009 and underwent a refurbishment in 2024.
Maya Capital sourced the properties and will take on the role of asset manager going forward. Savills represented ECE on the transaction.Â
ECE will continue to work with Maya to source additional opportunities across the UK, with a total investment amount of up to £150 million. ECE aims to build a UK portfolio of approximately eight mid-sized hotels in the mid to upscale segment.
Jan-Hendrik Walloch, managing director investment at ECE, said: “The acquisition of the two Staybridge Suites hotels in Liverpool and Newcastle is part of our opportunistic approach to invest in smaller-scale UK hotel assets that, on an individual level, are too granular and often overlooked by institutional investors.
“Extended stay concepts are in high demand in the UK and offer attractive recurring yields. We welcome the opportunity to build a portfolio with value-enhancing potential,†he added.
David Pralong, managing director at Maya Capital, said: “This venture combines both our expertise and resources to create value in a hotel segment where we have high conviction and that continues to show strong operating performance.â€
Highlights:
- ECE Work & Live has partnered with Maya Capital to acquire two Staybridge Suites extended stay hotels in the UK, located in Liverpool and Newcastle
- The two assets, managed by Cycas Hospitality, comprise a combined 260 rooms
- Maya Capital sourced the acquisitions and will act as asset manager, with Savills advising ECE on the transaction
- The deal forms part of ECE’s strategy to invest up to £150 million to build a UK portfolio of around eight mid-sized, mid- to upscale hotels
