Some of the UK's most iconic regional hotels have gone on the market, including the Imperial in Torquay and the Majestic in Harrogate, with a price tag in excess of £130m.
As reported in The Caterer on 1 March, Lone Star is selling its Hotel Collection portfolio in order to concentrate on the expansion of Amaris Hospitality, the company it founded last year to grow a portfolio of hotels under a number of international brands such as Hilton, Doubletree by Hilton and Hilton Garden Inn from Hitlton Worldwide; Mercure and MGallery from AccorHotels; and Jurys Inn.
The 10 hotels, known as Project Solstice, are to be marketed jointly by Savills and Rothschild.
Comprising 1,433 bedrooms and 111 meeting rooms, with a total revenue of £48m in 2015, the total portfolio includes the Majestic hotel, Harrogate; the Old Ship hotel, Brighton; the Redworth Hall hotel, County Durham; the Imperial hotel, Torquay; the Billesley Manor hotel, Stratford-upon-Avon; the Imperial hotel, Blackpool;the Shrigley Hall Hotel, Golf and Country Club, Macclesfield; the Stirling Highland hotel, Stirling; the Aberdeen Altens hotel, Aberdeen and the Angel Hotel, Cardiff.
Martin Rogers, head of UK hotel transactions at Savills, said: "We are pleased to be bringing this significant collection of hotels to market.
"The distinctive heritage and character of each property has been maintained while generating a robust collective income. The portfolio also offers numerous value-add and asset management opportunities to further enhance the long term revenue."
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