Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Sir David Michels buys two Midland hotels

02 August 2017 by
Sir David Michels buys two Midland hotels

A fund headed by Sir David Michels (pictured), former chief executive of Hilton, has acquired the Abbey hotel in Redditch, Worcestershire, and the Lea Marston hotel in Sutton Coldfield, Warwickshire, for an undisclosed sum off a guide price of £23m.

The two hotels have been sold by the Blake family, operating as RSM Leisure, who are now retiring after owning the properties for more than 25 years.

Sir David will now add the hotels to the four-AA-star, 152-bedroom Cheltenham Park hotel, which he acquired in 2015 off a guide price of £8m, a year after he announced that he was launching a £200m fund to target hotel investments in the UK and mainland Europe. Cheltenham Park was rebranded as the Doubletree by Hilton Cheltenham last year.

Gavin Wright, director, JLL, said: "This was an exceptional opportunity to acquire a portfolio of award winning four-star purpose-built hotels in central England. We are pleased to have secured new owners for both hotels following the owners plan to retire after 25 years of ownership.

"The interest is reflective of the current significant demand from both domestic and overseas buyers seeking good quality regional hotels".

Michels & Taylor, the hotel management and advisory company run by Sir David and Hugh Taylor, will operate the two hotels.

Two four-AA-star Midlands hotels on sale for £23m >>

Cheltenham Park hotel snapped up by Sir David Michels >>

Sir David Michels launches £200m hotel fund >>

Videos from The Caterer archives

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

Check mark icon
Thank you

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

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking