The six hotels, located across the UK and with a total asking price of c. £40m, have all been purchased by individual buyers and, with the exception of Swindon, have been acquired free and clear of the current Hilton branding and management upon conclusion of their agreed notice periods:
Basingstoke (141 rooms)
Bromsgrove (146 rooms)
Dunkeld (98 rooms)
Newbury (109 rooms)
Newport (148 rooms)
Swindon (171 rooms)
Jeremy Jones, Head of Hotels Brokerage at Christie & Co commented: “We are delighted to bring this successful campaign to an end. The properties were offered on a whole, sub-group or individual sale basis and we were able to leverage our knowledge of the sector and the players within it to run a competitive sales process, culminating in all sites selling on an individual basis.
“All of the buyers have recognised the individual opportunities on offer which illustrates the shift in focus to single asset sales.”
The private vendors were advised by Christie & Co on the sales, with CMS as legal advisers and Vision as asset manager.