A joint venture between three south east Asian companies has acquired the 96-bedroom Suites Hotel & Spa in Knowsley, near Liverpool, for an undisclosed sum.
Bangkok-based Compass Hospitality, which operates a portfolio of 17 hotels in the UK, joined forces with two Singapore businesses – Seacare Hospitality and SPCS Consultancy – to buy the hotel from Peter Tyer. The acquisition marks the first foray for SPCS Consultancy, a subsidiary of the Singapore Police Co-operative Society, into the hotel sector.
Located adjacent to Knowsley Business Park, the recently refurbished Suites Hotel & Spa features two restaurants, eight event spaces, a spa and leisure club.
In the hotel's most recent financial report lodged at Companies House, the business was show to have achieved a turnover of £3.8m, up 4.3%, for the year to 31 July 2018, with a pre-tax profit of £279,351.
Harmil Singh, chief executive of Compass Hospitality, said: "We are excited to collaborate with Seacare Hospitality and SPCS Consultancy on this award-winning spa hotel. We are ready to implement several strategic opportunities to add value to this asset over short to medium term to further enhance its performance."