Moat House bids to buy managed hotels

Moat House Hotels, the UK arm of Queens Moat Houses (QMH), is hoping to buy five hotels that it manages from the Bank of Scotland early next year. The group has been managing the hotels for the last 10 years, but the agreement expires in January and the bank has told the group it intends to put them on the open market rather than agree a private sale.

"These hotels are not critical but we would prefer to keep them. While the property market is depressed, individual hotel values have remained high," said Tim Scoble, managing director of QMH.

QMH has 42 UK hotels, of which eight are under management contracts. Scoble said the group would prefer to own the hotels, although it would also consider a renewed management contract with a new owner.

The hotels, to be marketed through agent FPD Savills, are Holiday Inns in Bristol and Reading, the Wigan Moat House, Winchester Moat House and Sheffield Moat House hotels.

Source: Caterer & Hotelkeeper magazine, 24 - 30 April 2003