Crowne Plaza Cambridge sold for more than £35m

01 August 2012 by
Crowne Plaza Cambridge sold for more than £35m

Property company London & Regional (L&R) has fought off a number of bidders to acquire the 198-bedroom Crowne Plaza Cambridge for a price which is believed to be in excess of the asking figure of £35m.

The hotel, which includes a reception room for 300 and health and fitness facilities, was put up for sale and marketed by Christie & Co, after the previous owner, the Quinn Group, went into administration

L&R's portfolio currently includes three Hilton hotels in London - in Park Lane, Trafalgar Square and Green Park. The company's owners, Ian and Richard Livingstone, also own two leading country house hotels, Chetwton Glen and Cliveden.

Jeremy Jones, director of corporate hotels at Christie & Co, said: "L&R has made yet another excellent acquisition with the Crowne Plaza Cambridge, and we are delighted to have concluded a deal on behalf of the seller. The opportunity to acquire the hotel made for an extremely competitive sales process, which was reflected in a highly competitive bidding to secure this profitable hotel which benefits from a leading global brand and incumbent manager in InterContinental Hotels Group."

Crowne Plaza Cambridge on market for £35m >>

Bid deadline for Crowne Plaza Cambridge >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to jobs

Looking for a new job? Find your next job here with jobs

Blogs on ]( Catch up with more news and gossip on all Caterer's blogs
[E-Newsletters]([ For the latest hospitality news, sign up for our E-newsletters
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 Group 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