Dominvs Group offloads three hotels

Dominvs Group offloads three hotels

Real estate and private equity business Dominvs Group has sold three branded hotels for an undisclosed sum off a £12m guide price to Asian company Fico Corporation.

Dominvs said that the sale of the 80-bedroom Holiday Inn Darlington North, 71-bedroom Holiday Inn Dumfries and the 78-bedroom Mercure Sheffield Parkway formed part of a wider strategy to look for new opportunities to grow its portfolio and development pipeline.

The Mercure Sheffield Parkway and Holiday Inn Darlington are both freehold, while the Holiday Inn Dumfries is held on a long leasehold basis.

The company is now left with three hotels: the 298-bedroom Holiday Inn Manchester City Centre, and two at Aberdeen Airport (a 165-bedroom Crowne Plaza and 193-bedroom Holiday Inn Express).

It is also developing a 191-bedroom hotel at Tower Bridge, London, and a 145-bedroom property in Oxford.

JLL advised jointly on the off-market deal with Christie & Co.

Gavin Wright, director of JLL's Hotels & Hospitality Group, said: "This is a significant deal post the EU referendum result. All three hotels benefit from being operated by well-known brands and offer stable and steady income."

Jeremy Jones, head of hotels brokerage for Christie & Co, added: "This portfolio sale follows on from a number of recent high profile sales processes. It is further evidence of the appetite from both domestic and overseas buyers for good quality regional UK hotel assets."

Dominvs Hospitality to open Holiday Inn Manchester in April >>

Plans for new hotel in Oxford as part of £30m regeneration project >>

Dominvs Group acquires Tower Bridge site for planned hotel >>

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

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 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