Salboy makes ‘not-so-hidden’ move into hospitality sector

UK property developer and private equity firm Salboy has expanded into the hospitality market with a new offering to meet the growing demand for holiday accommodation.

Touted as a “boutique aparthotel brand” known as Hidden, the developer’s entry into the sector is part of a broader strategy to expand its portfolio beyond residential and commercial properties.

The first project under the new venture, located in St Ives, Cornwall, features 18 two-bedroom apartments, each with terraces and custom interiors designed by Salboy.

Delivered with “luxury” in mind, including a concierge, and chauffeurs, further developments are planned across the UK, with London and Manchester next.

Each project is being developed by Salboy alongside local contractors and managed by hospitality operators.

Miz Herrara, director of operations, who is responsible for growing the Hidden portfolio, said: “We’re hugely excited about welcoming our first guests to Hidden St Ives this spring, and unlocking more hidden pockets of the UK for guests to enjoy over the next few years.”

Chief executive officer and co-founder Simon Ismail added: “As a developer of thousands of UK homes and serviced apartments, as well as a partner to global luxury hospitality brands, it’s become our not-so-hidden ambition to venture into high-end hospitality in our own right.

“[…] Hidden goes further to help visitors step out of the fast lane, slow down and tune into the stunning natural environment around them.”

Co-founded in 2014 by Betfred founder, Fred Done, Salboy saw revenues rise 67 per cent to £80.9 million in the year to 31 March 2025, while pre-tax profits dropped slightly from £1.7 million to £1.4 million as higher costs weighed on margins.

This new initiative follows the expansion of Salboy Construction, which now works with third-party developers and funders on complex housing projects across the UK, as part of a wider portfolio of more than six active property and construction brands.

The developer’s other projects include Viadux Phase 2, set to become Manchester’s tallest building at 76 storeys and 246 metres, featuring a Nobu hotel linked to Nobu Hospitality co-founder Robert De Niro and 452 apartments.

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