Kew Green asks £27.5m for Europe's largest Express by Holiday Inn

16 September 2008 by
Kew Green asks £27.5m for Europe's largest Express by Holiday Inn

Europe's largest Express by Holiday Inn, at Stansted Airport, has been put up for sale by Kew Green Hotels and its backer Close Ventures for a minimum of £27.5m.

The 254-bedroom hotel, which is located less than a mile away from the terminal building, has been offered to the market by means of a share sale.

It is available either with or without the existing franchise agreement, or on a sale and manage-back basis with the current operators. Property agent Christie & Co is handling the sale.

The hotel is set to benefit through plans to substantially increase the capacity of Stansted Airport.

The airport's owner, British Airports Authority, has applied to raise the capacity to 35m passengers per annum. It has also separately submitted a Phase 2 planning application for a second runway and further development at the airport. If this is granted it would take the airport's capacity to 65m passengers per annum.

In February, Express by Holidays Inns in Strathclyde and Stevenage were sold for a combined sum in the region of £18m.

Holiday Inn to get $1b global overhaul >>
UK's first Express by Holiday Inn sold >>

London airport hotels booming >>

By Gemma Sharkey

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