Ramada Loughborough hotel sells to BV hotels

21 July 2005
Ramada Loughborough hotel sells to BV hotels

Jarvis Hotels has sold its Ramada hotel in Loughborough to BV Hotels for the asking price of nearly £4m.

The Leicestershire-based city centre property has 78 bedrooms, conferencing for up to 150 and a 65-seater restaurant.

The hotel was one of the properties put on the market by Jarvis because it no longer fitted their portfolio profile.

BV Hotels is a new joint venture between Edinburgh-based hoteliers Navin Varma and James Barlow. The hotel will continue to be run as a Ramada. Property agents Savills conducted the deal.

Jarvis announced this week that it has been put up for sale by owner Lioncourt Capital, which is looking to make £200m from the sale of the 60-strong estate.

Lioncourt paid £239m for the chain 18 months ago. The price drop is a result of the sale of Jarvis's flagship Ramada Plaza Regents Park in London, earlier this year.

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