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Fuller's sells Bristol hotel for £17.09m

03 October 2006

Brewers pub operator Fuller, Smith & Turner has sold the Brigstow hotel in Bristol for £17.09m to Pedersen Hotels.

Fullers spent £8m converting the former office block into the Brigtsow hotel, which it opened in 2001.

Pedersen Hotels will not be operating the hotel, which will be managed by Accor under the Mercure brand.

Simon Emeny, managing director of Fuller's Inns, said that Fullers would now concentrate on pubs with rooms and three-star hotel market. He added that the Brigstow was "very much" a four-star hotel.

The cash generated from the sale will be used to expand the Fullers estate of 361 pubs, which includes 21 hotels and pubs-with-rooms.

The Brigstow's net book asset value was £9.3m and achieved profits in the financial year to 1 April of £700,000.

Completion of the hotel sale is expected to be on 31 October.

Last year Fullers bought rival Hampshire-based brewer Gales for £91.8m.

Fuller's shareholders approve Gales bid >>

Fuller's announces closure of Gales brewery >>

By James Garner

E-mail your comments to James Garner](mailto:james.garner@rbi.co.uk?subject=Fuller's sells Brigstow hotel for £17.09m) here.

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