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De Vere golf resorts including Cameron House up for sale

27 May 2014 by
De Vere golf resorts including Cameron House up for sale

De Vere has put six of its golf resorts up for sale as it continues to seek to offset its original £1.1b debt with the Lloyds Banking Group.

The resorts include Cameron House on Loch Lomond and Slaney Hall in Northumberland.

The six resorts are expected to be sold for around £160m, with firms including KSL Partners, which own the Belfry and Hotel du Vin and Malmaison interested, according to the Sunday Times.

Dunston Hall near Ipswich, Mottram Hall in Cheshire, Belton Woods in Lancashire and Oulton Hall near Leeds are part of the deal.

In December 2013 chief executive Andrew Coppel confirmed to Caterer and Hotelkeeper that the De Vere Group was working towards the sale of both De Vere Hotels and Village Urban Resorts to offset its original £1.1b debt with the Lloyds Banking Group.

"We have invested in the business, improved performance across the hotels and brought new blood into the company. This has all been achieved through a very tough trading period, but the forecasts are looking better for 2014 and 2015."

Coppel has already sold the Grand hotel in Brighton for £50m and its conference venues business for £232m.

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