Topland Group sells Hallmark Hotel Bournemouth West Cliff
Topland Group has sold the Hallmark Hotel Bournemouth West Cliff to Motoring and Leisure Services.
The 83-bedroom, three-AA-star property was sold off a guide price of £6.75m for the freehold. The hotel will now drop its Hallmark branding.
Topland, a privately-owned investment group, has a portfolio of 35 hotels in the UK, including the Royal Crescent in Bath and the 26-strong Hallmark Hotel Group, which operates two other hotels in Bournemouth.
Motoring and Leisure Services also owns the three-AA-star Ghyll Manor in Rusper, West Sussex.
For the year to 31 December 2017, the hotel reported 70.5% occupancy, £67.34 average daily rate, £47.48 revenue per available room and £585,000 in earnings before interest, tax, depreciation and amortisation.
Alex Campbell, director in Christie & Co's corporate hotels team, handled the sale with Ed Bellfield, regional director at Christie & Co's Winchester office.
Campbell said: "The marketing process attracted a significant level of interest from both hotel investors and operators. The market in Bournemouth for hotels remains robust with demand outstripping supply for good quality, well located, hotel businesses."
GVA advised Motoring and Leisure Services. David Creamore of GVA said the hotel represents "a significant investment" for the company.
Dentons advised Topland Group.
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