Days Hotel Waterloo sold out of administration to Palm Holdings

The Days Hotel by Wyndham London-Waterloo has been sold to Palm Holdings on behalf of administrators Smith & Williamson.

The real estate company will operate the 162-bedroom hotel, which fell into administration in March, under its subsidiary Waterloo Hub Hotel. The property will continue to trade under the Days Hotel brand, which is part of Wyndham Hotels and Resorts, under a temporary operating agreement while the new owner considers options in repositioning the hotel.

Palm Holdings also owns and operates the Edinburgh Collection, which has four hotels in Edinburgh including the Haymarket Hub hotel and the Old Waverley hotel.

Jeremy Jones, head of brokerage – hotels at Christie & Co, which sold the hotel on behalf of administrators, said: "There was very significant interest in the hotel with over 150 signed NDAs for the property from a wide range of UK and International institutional and private property investors and hotel operators. The Palm Holdings offer was eventually accepted after a number of bidding rounds and put them in front of the other bidders because of their knowledge of the property, their level of engagement and ability to complete the transaction very quickly."