Hospitality sweethearts 14 February 2020 The couples who make working together and living together a love story
In this week's issue...Hospitality sweethearts The couples who make working together and living together a love story
Read More
Search
The Caterer

Park Inn by Radisson at Heathrow sold for around £72m

18 June 2014 by
Park Inn by Radisson at Heathrow sold for around £72m

The four-AA-star, 895-bedroom Park Inn by Radisson has been sold out of administration to property management company AXA Real Estate for around £72m.

Located on an 11.5 acre site, the property was sold on behalf of Zolfo Cooper, the administrator of Dania Properties Heathrow, at a yield of 5.9%.

A £13m refurbishment of the hotel will now be undertaken by Rezidor Hospitality, which has a lease on the property of more than 20 years.

Michelle Webb, director of hotels at Savills, the property agent which conducted the sale, said: "Park Inn is the closest hotel to terminals 1, 2 and 3 at London Heathrow, the busiest airport in the UK. Its location, combined with a strong covenant to Rezidor made it an attractive investment and the strength of the asset is reflected in the price achieved."

The hotel incorporates a conference centre, which can accommodate up to 700 delegates, and has parking for 450 cars.

Hotel Missioni Edinburgh to be rebranded as Carlson Rezidor announces two new brands >>

Heathrow hotels boosted in April >>

Heathrow Terminal 2 opens today, including host of restaurants and cafés >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!