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Sale of two Scottish Leonardo hotels being ‘assessed’

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Sale of two Scottish Leonardo hotels being ‘assessed’

Jurys Inn and Leonardo Hotels UK and Ireland is exploring a possible sale of two of its Leonardo hotels in Scotland.

The group has brought its 137-bedroom Leonardo Inn Glasgow West End (pictured) and 34-bedroom Leonardo Boutique Hotel Huntingtower Perth to market. A spokesperson said the decision was based on the hotels’ “size, location, proximity to other group hotels, and strong investor demand”.

Knight Frank and JLL have been instructed as joint selling agents of the Leonardo Hotel Glasgow West End, which is being offered as a going concern, free of management and branding

The spokesperson from Jurys Inn and Leonardo Hotels UK and Ireland added: “As a matter of course, we continuously review our options across all these areas on an ongoing basis.

“Following a review, we are assessing the potential sale of two hotels – the Leonardo Inn Glasgow West End and the Leonardo Boutique Hotel Huntingtower Perth. This is based on a number of factors including their size, location, proximity to other group hotels, and strong investor demand; with the sale limited to these hotels. At the same time, the group is actively seeking opportunities to expand its portfolio, which continues to perform very strongly, further enhancing its unique positioning in the UK and Irish hotel markets.”

The properties were snapped up by Leonardo Hotels, the European arm of Israeli-based Fattal Hotels, in 2017 as part of the five-strong Portland Hotels portfolio. Leonardo operates seven other hotels in the UK including the Midland hotel in Manchester. Together with Swedish hotel investment company Pandox, Fattal also acquired the Jurys Inn portfolio in 2017.

Leonardo Hotels snap up Portland Hotels >>

Fattal hotel group acquires site for new Leonardo hotel in Manchester >>

Fattal hotel group acquires 173-room Grand Harbour hotel in Southampton >>

 

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