Mercure Hatfield Oak sold to Peter Cashman's company
The 76-bedroom Mercure Hatfield Oak hotel has been sold off an asking price of £5.85m to Hatfield Hotels, a company where Peter Cashman of management group Focus Hotels is the principle shareholder.
Focus Hotels will continue to operate the hotel under the Mercure brand via its existing franchise agreement with AccorHotels.
The sale of the hotel is the second property to be bought from a portfolio of six that Avivia Investors put on the market in March, with a combined price tag of £17m. Following the recent disposal of the 87-bedroom Mercure Altrincham Bowdon to a private investor, four other Mercure hotels in Chester, Telford, Wolverhampton and Wigan remain up for sale.
"Purchasers with strong equity positions and access to competitive debt packages are struggling to secure suitable targets. When we bring suitable hotels to the market, we are experiencing highly competitive bidding processes which has increased sales proceeds."
Six Mercure hotels go on market for around £17m >>
Focus Hotels confirms two new management contracts >>
Focus Hotels takes over management of Tewkesbury Park >>
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