Cheltenham Park hotel snapped up by Sir David Michels

25 September 2015 by
Cheltenham Park hotel snapped up by Sir David Michels

Sir David Michels has kick-started the portfolio of properties he intends to create with the acquisition of the four-AA-star, 152-bedroom Cheltenham Park hotel.

Eighteen months ago, Sir David, former chief executive of Hilton, announced the launch of a £200m fund targeting hotel investments in the UK and mainland Europe.

Details of the price paid for the property have not been revealed. However, the Cheltenham Park hotel, which previously operated within the Hotel Collection owned by Lone Star Funds, was originally brought to market in November 2014 with a guide price of £8m.

The property very much fits the criteria that Sir David outlined at the launch of his fund as one that will benefit from a stringent management structure and investment to improve its value. Michels & Taylor, the hotel management and advisory company run by Sir David and Hugh Taylor, will operate the hotel.

Taylor said: "We are very excited to be managing the hotel and intend that it will become a great property."

Located 10 minutes from Cheltenham Racecourse, the Grade-II-listed-hotel incorporates a leisure club with swimming pool, restaurant and function rooms.

Michels & Taylor now manages around 12 hotels, as well as asset manages more than 40.

Sir David Michels launches £200m hotel fund >>

Hotel Collection to sell Cheltenham Park hotel >>

Profile: Hugh Taylor, Michels & Taylor >>

Amaris Hospitality could be worth £2b following £100m investment >>

Looking for a job? See all the current hotel vacancies available with The Caterer Jobs >>

Latest video from The Caterer

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking