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Portfolio of 21 Holiday Inn hotels go up for sale

30 May 2014 by
Portfolio of 21 Holiday Inn hotels go up for sale

Offers in excess of £70m are being invited for a portfolio of 21 Holiday Inn hotels which have been put on the market.

The hotels, which stretch from Washington in Tyne & Wear to Portsmouth, are being sold by LRG Acquisition Ltd (LRG). They are part of a wider portfolio of 73 properties acquired by the company from InterContinental Hotels Group (IHG) in 2005, for £1bn.

Currently operating under IHG's Holiday Inn brand, the new owners will have the opportunity to consider re-brandning the hotels.

Offers for small groups or individual hotels will be considered, with guide prices for individual properties being can be obtained by serious bidders from real estate company Christie + Co.

Jeremy Jones, director of corporate hotels at Christie + Co, said: "Strong interest has already been shown in all the hotels, which are being offered free of management and with an interim Holiday Inn franchise agreement until the end of this year."

A first round offer deadline has been set for 12 noon on 11 June.

The full list of hotels for sale is:

Holiday Inn Ashford, Kent
Holiday Inn Rochester
Holiday Inn Birmingham (M6 J7)
Holiday Inn Stoke-on-Trent (M6 J15)
Holiday Inn Chester South
Holiday Inn Haydock (M6 J23)
Holiday Inn Lancaster
Holiday inn Runcorn
Holiday Inn Warrington
Holiday Inn Colchester
Holiday Inn Ipswich
Holiday Inn Norwich
Holiday Inn Derby/Nottingham
Holiday Inn Rugby/Northampton
Holiday Inn Taunton (M5 J25)
Holiday Inn Swindon
Holiday Inn Leeds Brighouse
Holiday Inn Leeds/Wakefield (M1 J40)
Holiday Inn York
Holiday Inn Portsmouth
Holiday Inn Washington

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