The Caterer

SGS Hotels Group acquires Reading's Best Western Calcot hotel

29 July 2016 by
SGS Hotels Group acquires Reading's Best Western Calcot hotel

SGS Hotels Group has bought a second property with the acquisition of the 78-bedroom Best Western Calcot hotel in Reading.

The company, which is a subsidiary of Indian business Subhash Gulati Group, has secured a £10.5m loan from OakNorth Bank to buy the property and re-finance the Ramada Birmingham Solihull hotel which it purchased in 2012. The extact purchase price of the Reading hotel was not disclosed.

Originally built in the 19th century, the Best Western Calcot has been under ownership of the Dunn family since 1974 and is believed to be Reading's longest-established privately run hotel. It employs around 20 full-time and 120 part-time staff.

SGS plans to increase the size of a number of rooms and refurbish public areas, including the entrance, reception, banquet hall, bar and restaurant. It will also establish a new high-end grill Indian restaurant.

Mayank Gulati, director at SGS Hotels, said: "With the owner of the Best Western Calcot Hotel retiring, we saw it as an ideal opportunity to expand our offering in a prime location. However, we needed to move quickly so appreciated the efficiency, responsiveness and market understanding demonstrated by [OakNorth] the team."

Indian investor acquires Ramada Birmingham Solihull hotel >>

Hong Kong investor buys London Liverpool Street Travelodge for £42m >>

Magnificent acquires King's Cross Travelodge for £70m >>

Bay Glenburn hotel sold to Malaysian buyer >>

Latest video from The Caterer

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs >>

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!