The Hut Group: From Clicks To Manchester Hotel Bricks
Manchester-based online beauty giant The Hut Group has taken another step on its journey into the property business, this time buying two Manchester boutique hotels for a reported £50M.
The Hut Group has acquired Eclectic Hotel Group which owns the King Street Townhouse and Great John Street Hotel. Between them they have 70 rooms.
The sale price was close to £50M, Business Desk reports.
Eclectic has been bought from its founders, Eamonn and Sally O'Loughlin, who will continue to own and manage two other townhouse hotels in Didsbury.
The hotels will be part of THG’s marketing infrastructure, providing an opportunity for more offline engagement with customers. A £10M investment will be made in the venues.
The acquisition follows the group’s 2016 buy of the Hale Country Club & Spa, a venue said to be high on the list of preferred hangouts of the city's cohort of footballers' wives and girlfriends.
THG recently announced newly improved and extended group banking facilities, in excess of $1B (USD) to support major investments in beauty, technology and infrastructure, enabling the Group to continue to deliver on its growth plans.
In September 2018 THG announced it would occupy a 1M SF campus at Manchester's Airport City. To be branded THQ, The Hut Group's campus will be built over 16.8 acres in four phases, with Phase 1 comprising office buildings totalling 280K SF. An option agreement has also been reached with Airport City Manchester for Phases 2, 3 and 4 of the business campus.
The Hut Group's online empire embraces websites from Zavvi to MyProtein.
