Ten Hotel Collection properties go on market

15 April 2016 by Janet Harmer

Some of the UK's most iconic regional hotels have gone on the market, including the Imperial in Torquay and the Majestic in Harrogate, with a price tag in excess of £130m.

As reported in The Caterer on 1 March, Lone Star is selling its Hotel Collection portfolio in order to concentrate on the expansion of Amaris Hospitality, the company it founded last year to grow a portfolio of hotels under a number of international brands such as Hilton, Doubletree by Hilton and Hilton Garden Inn from Hitlton Worldwide; Mercure and MGallery from AccorHotels; and Jurys Inn.

The 10 hotels, known as Project Solstice, are to be marketed jointly by Savills and Rothschild.

Comprising 1,433 bedrooms and 111 meeting rooms, with a total revenue of £48m in 2015, the total portfolio includes the Majestic hotel, Harrogate; the Old Ship hotel, Brighton; the Redworth Hall hotel, County Durham; the Imperial hotel, Torquay; the Billesley Manor hotel, Stratford-upon-Avon; the Imperial hotel, Blackpool;the Shrigley Hall Hotel, Golf and Country Club, Macclesfield; the Stirling Highland hotel, Stirling; the Aberdeen Altens hotel, Aberdeen and the Angel Hotel, Cardiff.

Martin Rogers, head of UK hotel transactions at Savills, said: "We are pleased to be bringing this significant collection of hotels to market.

"The distinctive heritage and character of each property has been maintained while generating a robust collective income. The portfolio also offers numerous value-add and asset management opportunities to further enhance the long term revenue."

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