Hotel ownership and management business Pandox has acquired Hilton Belfast in the UK in a deal valued at approximately £40m ($51.79m).

The company acquired the property from a controlled affiliate of private equity company Starwood Capital Group.

Located 200m from the central station in central Belfast, Hilton Belfast features 202 rooms, a fitness centre, an executive lounge, a business centre and meeting rooms.

It also offers all-day dining with river views at Riverside Restaurant and Bar, as well as cocktails at the No. 4 bar.

Subject to a franchise under the Hilton brand, the acquired property will be operated under a management deal with Axiom Hospitality.

During the pandemic years, Hilton Belfast underwent refurbishment, including the renovation of all rooms as well as public areas, Pandox said.

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Pandox CEO Liia Nõu said: “The hotel is well-invested with a strong strategic location in the city centre of Belfast.

“The UK is one of Europe’s largest and most dynamic hotel markets and Belfast is an attractive destination with a rich business life, several universities and many attractions, which drive demand from all important segments.

“We will also make certain targeted value-increasing investments to further improve the hotel’s position and profitability.”

Founded in 1995, Pandox currently owns 157 hotels with nearly 35,500 rooms in 15 countries. It already owns the 270-room Leonardo Belfast.

Recently, Hilton signed an agreement with real estate development company Gohar Paradise to debut its Hilton Garden Inn brand in the city of Hyderabad in Pakistan’s Sindh province and it is expected to open in 2027.