DoubleTree by Hilton Dundee sold to 7 Hospitality for £5.5m
The 95-bedroom DoubleTree by Hilton hotel in Dundee has been sold to Singapore-based company 7 Hospitality, off a guide price of £5.5m.
It is the first UK acquisition for the business, which is headed by managing director Mohan Mulani, founder of the Harry's bars and restaurant chain and the Club hotel in Singapore.
The hotel is one of three businesses that property company JLL Hotels & Hospitality Group has been marketing as part of the BDL Select Portfolio. Sales of the Best Western Grosvenor hotel in Stratford-upon-Avon and the Best Western Marks Tey hotel in Colchester are expected to be announced in the coming weeks.
Kerr Young, director of JLL, said: "We expect the Dundee hotel market to go from strength to strength in the coming years as significant infrastructure projects are completed and we wish 7 Hospitality continued success with their purchase of the DoubleTree by Hilton."
Mulani added: "We are delighted to have acquired our first hotel asset in the UK. We have full confidence in Scotland as an excellent tourist and business destination and will be actively looking for further investment opportunities in the near future."
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