Heron International buys property from Club Méditerranée

11 November 2005
Heron International buys property from Club Méditerranée

Property and leisure group Heron International has bought four hotels from French-based holiday village operator Club Méditerranée for more than €100m (£67m).

The deal, which was handled by the London office of CB Richard Ellis, involved two hotels in the French Alps (in Val Thorens and Tignes Val Claret), one in Sicily and another in Cadiz, Spain.

They have a total 1,318 bedrooms which enjoy average occupancies in excess of 90%. Each property is held on a long lease and has land for future developments.

"These properties are a valuable addition to our European leisure portfolio and we are looking for similar deals of this type," said Gerald Ronson, chief executive at Heron.

Heron is best known for its Heron City leisure and entertainment centres which combine restaurants and bars with live entertainment, health and fitness facilities and bowling alleys. It currently operates six sites, four in Spain and one each in Glasgow and Sweden.

By Angela Frewin

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