Castleforge Partners, a UK-based private real estate investment group, has acquired the Hilton Hotel in Cardiff for an undisclosed sum.
Castleforge purchased the 197-bedroom hotel from a private owner who had owned the hotel for fourteen years. Opened in 1999, the seven-floor Hilton Cardiff has views over Cardiff Castle and the city’s Edwardian civic centre.
The deal follows Castleforge’s first investment in the hospitality sector in May when it acquired the Best Western Plus Bruntsfield Hotel in Edinburgh.
In 2020, Castleforge announced its intentions to enter the hospitality sector when it hired Matt Lederer from Marriott International to become their hotel acquisitions director.
Lederer said: “Our hotel strategy at Castleforge is to invest only in best in class value add opportunities across the UK and European markets. Our decision to invest in the city of Cardiff and the Hilton Hotel are emblematic of this approach.”
Brandon Hollihan, founding partner of Castleforge Partners, added: “We are thrilled to be announcing our move into the hospitality sector with the landmark purchases of the Hilton Cardiff and the Best Western Plus Bruntsfield Hotel in Edinburgh.
“The last year has been tough on the hospitality industry, but we firmly believe that these top-tier hotels and destinations are particularly well primed for a big bounce back in the months and years to come.”
Global real estate advisor, CBRE, advised the private owner on the sale of the hotel to Castleforge.