Four Ibis Styles hotels on sale for £33m

06 October 2016 by
Four Ibis Styles hotels on sale for £33m

Four Ibis Styles hotels have been put on the market, available individually or as a portfolio with a combined total price of around £33.15m.

New World Leisure is selling the freehold for the 102-bedroom Ibis Styles Haydock with a guide price of £4.5m, the 117-bedroom Ibis Styles Barnsley for approximately £4m, while a long leasehold is available for the 112-bedroom Ibis Styles Crewe (pictured) for £6.25m. The 166-bedroom Ibis Styles NEC hotel has a guide price of around £18.4m.

The four hotels have recently undergone a £2.6 million refurbishment and rebranding programme. New World Leisure and Alfred McAlpine originally developed the hotels under the Ramada Encore brand, part of Wyndham Hotel Group. Hotel management company Kew Green Hotels was appointed to manage the hotels in 2014 and undertook the rebranding.

Ibis Styles is AccorHotel's brand of non-standardised, budget limited-service hotels.

Property advisor Knight Frank has been appointed by New World Leisure to sell the hotels.

Henry Jackson, partner at Knight Frank, said: "We are seeing an improved performance of hotels in the regions. PwC has forecast 77% occupancy rates this year and through to 2017, which would be a record for regional hotels and indicates buoyancy in the market. The marketing of these hotels represents strong growth in the sector, with these four top quality, recently rebranded hotels being a prime example of the high standard of stock being introduced."

Ibis Styles Birmingham Airport NEC hotel opens >>

Ibis Styles Crewe hotel opens >>

Accor to expand in UK with seven Ibis hotels >>

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