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Paten Hotels' portfolio of three hotels to be sold

13 October 2016 by
Paten Hotels' portfolio of three hotels to be sold

A regional hotel portfolio, comprising a total of 278 bedrooms, has gone on the market with a guide price of around £17m.

BDL Select Hotels is selling the properties under a subsidiary company, Paten Hotels, which it bought in 2008 for around £45m, when the group was made up of four hotels with more than 400 bedrooms.

Today the company comprises the 73-bedroom Best Western Grosvenor hotel (pictured) in Stratford-upon-Avon, Warwickshire, 110-bedroom Best Western Marks Tey in Colchester, Essex, and 95-bedroom DoubleTree by Hilton hotel in Dundee.

All three properties are currently operated by Redefine BDL, but can be acquired free of management, either individually or as a portfolio.

JLL's Hotels & Hospitality Group has been appointed to sell the properties.

Kerr Young, director in JLL's Hotels & Hospitality team, said: "These hotels represent a significant opportunity to acquire hotels with the benefit of established track record that appeal both to business traveller and leisure guests.

"We are seeing increasing investor interest in UK regional hotel assets and anticipate strong interest in these asset sales".

Hexham Best Western hotel sold for £1.9m >>

Suffolk's Cameo Hotel sold to Cameron Ventures for £2.5m >>

BDL Select Hotels buys Paten Hotels for £45m >>

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