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

De Vere to sell five properties ahead of Village Hotels expansion

16 January 2012
De Vere to sell five properties ahead of Village Hotels expansion

De Vere Group is expected to sell four hotels and one conference venue to fund the expansion of its three-star Village Hotels business.

The Times reported that Village Hotels, which has just appointed former Malmaison and Hotel du Vin boss Robert Cook as its chief executive, will develop up to 18 new hotels over the next few years.

Cook's arrival follows the resignation last year of Richard Balfour-Lynn, group chief executive, and finance director Jag Singh, after pressure from Lloyds Banking Group, which controls the company.

The four De Vere hotels up for sale are reported to be: the 173-bedroom Grand Harbour in Southampton; the 140-bedroom Royal Bath in Bournemouth; the 119-bedroom University Arms in Cambridge; and the Village Daresbury Park hotel in Warrington. It is also planning to sell the Barony Castle at Peebles near Edinburgh.

The Times said that the sale of the properties was expected to raise around £65m, which would be used to develop three new-build Village Hotels sites.

De Vere Group was not available for comment.

Caterer and Hotelkeeper 100: Andrew Coppel, De Vere Group >>

De Vere Academy launches new Apprentice scheme >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

Tabletalk
Tabletalk
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 www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

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

Blogs on Catererandhotelkeeper.com ](http://www.catererandhotelkeeper.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[E-newsletters](http://www.catererandhotelkeeper.com/email-newsletters.htm)[ 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.

close

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