Get the latest hospitality news and inspiration straight to your inbox. Subscribe to our newsletter.

Nine Group sells two Ibis hotels to Luxmi Group

Written by:
Written by:
Nine Group sells two Ibis hotels to Luxmi Group

Two Ibis hotel in the Midlands have been sold by hotel investment company Nine Group to the Calcutta-based Luxmi Group, for £5m.

The 51-bedroom Ibis Birmingham City Centre and 52-bedroom Ibis Coventry South will be run by Neelabha Chatterjee, a director of Luxmi, which was founded in 1912 as a producer of tea.

Their acquisition marks Luxmi’s first involvement in the UK hotel sector. The company now plans to buy further properties here.

The sale follows a period of rapid expansion by Nine Group, which has recently bought the Chequers hotel in Horley, Surrey, for over £5m, and a development site for a 50-bedroom hotel in North Greenwich, London.

Nine Group’s portfolio of nearly 20 branded hotels includes the Mercure St Albans Noke hotel, the Crowne Plaza Basingstoke and the Novotel London Heathrow Airport.

Henry Jackson, partner, hotels & leisure at Knight Frank, which negotiated the deal, said: “With sterling at a record low and hotel trading performance remaining strong, the regional hotel market is attracting considerable interest from overseas purchasers.”

Nine Group acquires hotel development site next to the O2 Arena

Nine Group to reopen Chequers hotel in Horley, Surrey

Trafford Park hotel in Manchester to be given new lease of life
Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

Start the discussion

Sign in to comment or register new account

Start the working day with

The Caterer’s free breakfast briefing email

Sign up now for:

  • The latest exclusives from across the industry
  • Innovations, new openings, business news and practical advice
  • The latest product innovations and supplier offers
Sign up for free