The Hotel Collection has placed what is understood to be its 10 remaining hotels on the market for what is reported to be a combined value of £130m.
The hotels include some of the coach tourism industry’s favourites, including The Majestic Hotel in Harrogate, The Redworth Hall Hotel in County Durham, The Imperial Hotel in Torquay and The Imperial Hotel in Blackpool.
Martin Rogers, head of UK hotel transactions at Savills, the property company handling the sale, says: “We are pleased to be bringing this significant collection of hotels to market. The distinctive heritage and character of each property has been maintained while generating a robust collective income. The Hotel Collection portfolio also offers numerous value-add and asset management opportunities to further enhance the long term revenue.”
The Hotel Collection, previously known as Puma Hotels, was acquired by US property investment firm Lone Star Funds in 2014. In 2015, Lone Star, which also owns Jurys Inn, announced the creation of Amaris Hospitality, a company focused on properties operating under various international brands such as Hilton, Doubletree by Hilton and Hilton Garden Inn from Hilton Worldwide, Mercure and MGallery from AccorHotels. At the time it was reported that Lone Star was likely to dispose of the individual properties that made up the Hotel Collection.
The 10 hotels are: The Majestic, Harrogate; The Old Ship Hotel, Brighton; The Redworth Hall Hotel, County Durham; The Imperial Hotel, Torquay; The Billesley Manor Hotel, Stratford-upon-Avon; The Imperial Hotel, Blackpool; Shrigley Hall Hotel, Golf and Country Club, Macclesfield; The Stirling Highland Hotel; The Aberdeen Altens Hotel; and The Angel Hotel, Cardiff.
Note: Lone Star Funds was in the news again this week when it was announced that it had acquired Shearings Group.
