Two of the last three hotels in the dwindling Hotel Collection portfolio are close to being sold.
The Imperial hotel in Blackpool (pictured) and Shrigley Hall golf and country club in Macclesfield, Cheshire have both been taken off the market as deals are agreed with separate purchasers.
Should the deals go ahead, it will mean that there is just one hotel from the Hotel Collection – Billesley Manor in Stratford-upon-Avon – left for sale.
Lone Star acquired the Hotel Collection in June 2014, when the group was made up of 21 properties. A year later it announced that it would dispose of the individual properties within the group in order to focus on properties operating under various international brands such as Hilton, Doubletree by Hilton and Hilton Garden Inn from Hilton Worldwide, Mercure and MGallery from AccorHotels, and Jurys Inn under the umbrella of newly created company, Amaris Hospitality.
Property agent Savills confirmed that the Imperial and Shrigley Hall had both been taken off the market as deals were being agreed with purchasers. However, it declined at this stage to reveal who the buyers were or how much they were set to pay for the properties.
Situated on Blackpool’s North Promenade, the grand 19th century imperial hotel has played host to royalty, politicians, statesmen and stars of stage and screen over the years. The four-star property has 180 rooms.
Meanwhile, Shrigley Hall, another four-star hotel, is a Victorian country house set in 262 acres of grounds on the edge of the Peak District and has an 18-hole championship golf course.
Late last year, rapidly expanding Newcastle-based hotel and bar operator Cairn Group acquired five properties from the Hotel Collection portfolio, off a guide price of £75m.
The deal included the Redworth Hall hotel, Durham; Old Ship hotel, Brighton; the Angel hotel, Cardiff ; the Majestic hotel, Harrogate; and the Stirling Highland hotel, Stirling.
In March 2016, Lone Star Funds announced that it would be selling 10-strong portfolio of regional properties within the Hotel Collection, for a combined total price of £130m. Andrew Brownsword Hotels completed the first sale with the acquisition of the 152-bedroom Imperial hotel in Torquay, in August that year.
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