Individual buyers step in
Six buyers in £40m Hilton hotels sale
The six hotels, with a total asking price of about £40 million, have 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:
The hotels are in Basingstoke (141 rooms), Bromsgrove (146 rooms), Dunkeld (98 rooms), Newbury (109 rooms), Newport (148 rooms) and Swindon (171 rooms).
Jeremy Jones, head of hotels brokerage at Christie & Co commented: “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.
Photo: Hilton Dunkeld House