The new owners are planning a major rebranding and refurbishment of the 138-bedtoom hotel, which also has conference and function rooms, a 120-cover restaurant and leisure facilities including a gym.
BGAM is one of the UK’s fastest growing owner-operators of branded hotels. Director Jamie Levy said: “BGAM are delighted to confirm the purchase of our fifth hotel, the MK Hotel, Milton Keynes.
“We see a lot of growth potential in the hotel and area as a whole and the hotel will benefit immediately from rebranding and major rolling refurbishment programme.”
The sale was handled by Alex Campbell, director at specialist property agency Christie & Co. He said: “We received strong interest in the hotel as it represents a superb opportunity to rebrand and reposition the hotel within the Milton Keynes market.
“BGAM will undertake a refurbishment of the hotel and it will fit perfectly into their expanding portfolio.”