Landsec has secured a group to operate the Holiday Inn Hotel at its 52-acre MediaCity site in Greater Manchester.
Axiom Hospitality will take over the running of the 218-bed hotel on a "hybrid" management lease, adding to its portfolio of 33 hotels across the UK.
Landsec acquired the hotel free from management and subject to the ongoing franchise agreement with IHG under the Holiday Inn brand at the end of last year as it took full control of the mixed-use scheme.
But the REIT said that it wanted to select a third-party hotel operator to manage the hotel and establish a long-term partnership with a view to developing the estate over time.
Landsec bought the remaining 25% interest in MediaCity from Peel Group, plus the television facility dock10 and the 218-bed hotel at the estate that were wholly owned by Peel, in November, read here. The site had been owned equally by Peel and Legal & General, with the latter exiting.
Chris Reay, regional asset and leasing director at MediaCity, said in a statement: "MediaCity has huge potential. Since Landsec acquired the remaining stake last November, we're focused on building on its success as the UK’s leading creative, tech and digital hub.
"By investing in its quality of place, including appointing a best-in-class hotel operator for the Holiday Inn that serves the many visitors to MediaCity, and enhancing the residential and workplace offer, we can provide the full package to the media industry."
Axiom runs several Radisson Blus, hotels under various Hilton brands and Residence Inn by Marriotts, among others.
Jamie Lamb, co-CEO, Axiom Hospitality, added: "We are delighted Holiday Inn Manchester MediaCityUK has joined our growing portfolio and we have been successful in partnering with Landsec. Located within easy access to Old Trafford stadium and the city centre, this hotel is the ideal base for visiting Manchester and we are looking forward to welcoming guests for city stays or meetings and events."
MediaCity houses offices, hotels and homes and is set for a large-scale regeneration after Salford City Council approved plans for thousands of additional homes and circa 800,000 square feet of commercial space in March, read here. Landsec was advised by CMS and Knight Frank.
Chris Field, associate in Knight Frank's hotel agency team, said: "This lease structure will deliver the income required by a REIT while also creating a strong incentive for owner and operator to work together to drive trading performance."
Wordsmith Law advised Axiom Hospitality.