Trio of Hampton by Hilton hotels up for sale
Three Hampton by Hilton hotels have been put on the market after the owner of the properties, Osborn Securities (Hotels), went into administration.
The trio of premier budget hotels, comprising a total of 241 bedrooms, are all operated under long-term management agreements with Hilton. They are located in Braintree (76 bedrooms), Shrewsbury (75 bedrooms) and Birmingham (90 bedrooms).
Hampton by Hilton entered the UK market in 2008 and there are currently eight hotels operated under the brand, with a further 12 expected to open during the next 12 to 18 months.
Daniel Woodcock of CBRE Hotels, the company marketing the hotels said: "The weak appetite within the debt markets means the challenges and costs involved in order to develop a product of this specification would be higher than the guide price on these hotels.
"This, coupled with Hilton's substantial growth plans for the Hampton by Hilton brand, creates the ideal opportunity for an investor to buy at the perfect time in the property cycle and enjoy excellent returns going forward."
The hotels are available for sale as a group, sub-group or individual hotels.
Pictured here is the Hampton by Hilton in Birmingham.
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By Janet Harmer
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