Louvre to sell UK portfolio of 18 hotels

16 July 2010 by
Louvre to sell UK portfolio of 18 hotels

Louvre Hotels is putting its entire estate of UK hotels, comprising 17 Campanile and one Première Classe property, up for sale.

The hotels, which are a mix of freehold and long leasehold sites, are spread across the UK in locations which include Cardiff, Glasgow, Birmingham, Liverpool and Manchester. Together, they comprise 1,549 bedrooms.

The Premiere Classe hotel, which is described as the company's super-budget brand, was launched into the UK in May with the conversion of the former 47-bedroom Campanile property in Coventry.

Campanile is Louvre Hotels' two-star chain, and has 380 hotels and restaurants in nine European countries.

The UK properties are available with the benefit of a management contract with Louvre Hotels under its Campanile brand.

Jeremy Jones, director at Christie & Co, which is marketing the properties, said: "The opportunity to acquire over 1,500 bedrooms in some of the UK's best trading locations is something of a rarity. To secure a leading flag on these assets by means of a management contract with Louvre Hotels makes this deal even more exciting.

"We anticipate a strong response reflecting the quality of the opportunity and the ability to keep growing one of Europe's best-known brands."

Première Classe launches super budget hotel in the UK >>

Campanile budget hotels face UK expansion and overhaul >>

Campanile invests for growth >>

By Janet Harmer

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