West Midlands-based Talash Hotels Group has put a portfolio of nine hotels on the market with a guide price in excess of £29.5m.
The group to be sold comprises a total of 661 bedrooms and includes flagship hotel, the 97-bedroom Stoke Rochford Hall, near Grantham, Lincolnshire. Four of the properties are operated under Accor’s mid-market brand Mercure.
Following the disposal of the nine hotels, Talash will be left with three properties: Risley Hall hotel in Derbyshire, Mercure Telford Madeley Court and Mercure Wolverhampton Goldthorn.
Launched in 2007, Talash Hotels Group - owned by brothers Sanjay and Ravi Kathuria - primarily features hotels in the Midlands and the north west of England. In 2017 the brothers announced that they intended to build up the group to 20 hotels by 2020.
Ravi Kathuria, chief executive of Talash Hotels, said: “The Talash hotel portfolio is a business that has been built up by myself and my brother Sanjay over the last 12 years and it has truly been a privilege to own such great hotels which have created an incredible journey.
“We have decided to continue to pursue our other business interests. Our hotels give an incoming buyer a value-add opportunity and are ready to be taken to the next platform to realise their full potential.”
Gavin Wright, director, JLL Hotels & Hospitality, which has been appointed to market the properties, added: "All nine properties provide an incoming purchaser a variety of asset management and significant value-add opportunities. With a value of circa £45,000 per bedroom for the portfolio we anticipate high levels of interest from a range of domestic and overseas investors.”
The portfolio of nine hotels include:
- Mercure Birmingham North Baron's Court hotel – 98 bedrooms
- Mercure Chester North Woodhey Househotel – 75 bedrooms
- Mercure Warwick Honiley Court hotel – 73 bedrooms
- Mercure Wigan Oak hotel – 88 bedrooms
- Stoke Rochford Hall hotel, Lincolnshire – 97 bedrooms
- The Allesley hotel, Coventry – 90 bedrooms
- Chimney House hotel, Cheshire – 51 bedrooms
- Huntley Arms hotel, Aboyne – 51 bedrooms
- Quorn Country hotel, Leicestershire – 38 bedrooms