Hotels - Recent Activity
Frederick's Hotel & Spa, Maidenhead
After 30 years of ownership Frederick Losel instrusted Christie + Co to confidentially handle the sale of the 37-room Frederick's hotel & Spa in Maidenhead. The hotel, which includes an award-winning restaurant and extenstive conference/banqueting facilites, was acquired for an undisclosed sum by a private investor.
The Crab at Chieveley
Acting on behalf of owners David and Jackie Bernard, Christie + Co sold the Crab at Chieveley for an undisclosed sum to Heritage Hotels, which is owned and operated by the Hughes family. Offers of around £5 million were sought for the 14-room property.
Dylan Hotel
Acting on behalf of Apollo Real Estates Advisors, Christie + Co sold the stylish Dylan Hotel in Amsterdam for an undisclosed sum to a confidential buyer.
Metro Inns
Acting on behalf of Metro Inns, Christie + Co has sold two of its limited service hotels in Doncaster and Peterborough to Michelle Toms, owner of Restover Lodge in Rotherham, for an undisclosed sum.
Sale of the Express by Holiday Inn Strathclyde
Acting on behalf of LRG Acquisition Ltd, Christie + Co has sold the long leasehold Express by Holiday Inn Strathclyde Park in Scotland. The purchaser was Geminex Hotels & Leisure - the hotel arm of Festival Healthcare - which will manage the 120-bedroom hotel on a franchise basis.
Sale of the Express by Holiday Inn Stevenage
Acting on behalf of private clients, Christie + Co has sold the Express by Holiday Inn Stevenage to leading budget sector operators, Morethanhotels. This 129-bedroom, purpose-built hotel was sold with the benefit of an existing brand franchise agreement under the Express by Holiday Inn brand.
Express by Holiday Inn Banbury
Acting on behalf of Eastlake Developments, Christie + Co negotiated a 20-year management contract agreement with Butterfly Hotels Group, to operate a new Express by Holiday Inn hotel near Banbury. The new 120-bedroom property was to be built by Eastlake Developments as part of the mixed-use Stroud Park development, situated adjacent to Junction 11 of the M40.
Sale of Derwentwater Hotel and Derwent Manor
Christie + Co sold the 48-bedroom Derwentwater Hotel and Derwent Manor, located in a Conservation area in the village of Portinscale, in the north of the Lake District. The purchaser was a real estate investment company, which has subsequently leased the property to a well known hotel operator.
Sale of the Averard Hotel, London W2
Acting on behalf of the vendors, Christie + Co has sold the 60-bedroom Averard Hotel in central London to a private international investor, by means of a share sale.
Four Pillars Hotel Group
RREEF Real Estate has acquired the Four Pillars Hotel Group. The deal, which was worth a reported £120 million, was brokered by Christie + Co on behalf of Four Pillars. The independent hotel group owns and operates five hotels in Oxfordshire and Gloucestershire. Under the terms of the acquisition agreement, Four Pillars Hotels’ founding director Brian Murtagh and existing CEO Charles Holmes will retain an equity position in the hotel group. In addition, a joint venture will be established between RREEF and the four original founding shareholders of Four Pillars to identify and build further sites which will be operated under the Four Pillars banner.
Portfolio of 8 Thistle Hotels
Menzies Hotels acquired a portfolio of eight Thistle Hotels from Curzon Hotel Properties Ltd for £54 million. The transaction was brokered by Christie + Co. The hotels, which have a combined total of 978 bedrooms and 45 meeting rooms are located in; Birmingham, Luton, Swindon, Stevenage, Irvine and near; Manchester, Gatwick and Aberdeen airports.
Avon Gorge Hotel sells to Swire Properties
Christie + Co has acted in the off market sale of the 76-bedroom Avon Gorge Hotel in Bristol for £15.5m. The deal was brokered between Peel Hotels and Swire Properties, the real estate arm of the Hong-Kong based conglomerate, Swire Group. Overlooking Brunel's famous Suspension Bridge, the hotel is located in Bristol's trendy Clifton Village. Swire is expected to pursue additional planning permission in order to further develop and enhance the hotel and its range of services.
Sale of Nunsmere Hall Hotel, Cheshire
Acting on behalf of private owners, Malcolm and Julie McHardy, Christie + Co has sold the 18th Century Nunsmere Hall Hotel in the heart of the Cheshire coutryside. With planning permission for a further 24 bedrooms, a leisure spa and additional conference facilities, this 36-bedroom Victorian country hotel attracted a considerable amount of interest, before selling to Prima Hotels.
Le Méridien, Phoenicia
Acting on behalf of Starman UK Services Company Limited, Christie + Co has agreed the sale of the Le Méridien Phoenicia in Malta’s capital city, Valletta. After attracting a considerable amount of interest from UK, international and local investors, a deal was agreed on this world famous 136-bedroom hotel to Irish hotel operators, Heuston Hospitality.
Draycott Hotel, London
On behalf of clients, Draycott Hotel LLP, Christie + Co were instructed to find an investor on a confidential basis, willing to acquire a 73.33% interest in the owning LLP. Following several offers, the investment was placed to a consortium of investors headed by Mantis Collection.
Sale of the Sofitel in Nice
Christie + Co acted for the previous owners of the Sofitel in Nice to facilitate a change of ownership for this renowned, 152-bedroom, 4-star hotel. After a considerable amount of interest, which prompted a competitive bidding process, the shares were acquired by INVESCO’s European hotel real estate fund. The purchaser has subsequently let the hotel business to NH Hotels of Spain.
The Spa Hotel, Tunbridge Wells
Christie + Co acted on behalf of the renowned Goring family in the sale of the 69-bedroom Spa Hotel in Tunbridge Wells. The charming 18th Century four-star hotel was acquired by Scragg Hotels, following a competitive bidding process, after offers in excess of £10 million were sought. The sale included the Major Yorke, an adjacent licensed property.
Sale of the Red Lion, Henley-on-Thames
The 14th Century Red Lion Hotel in Oxfordshire was sold by Christie + Co on behalf of the Miller family, off an original asking price of £5.5 million. The purchaser was MG Hotels, an expanding hotel operator, which intends to fully refurbish and extend the 26-bedroom hotel.
Christie + Co sells Hunstrete House Hotel
Christie + Co acted on behalf of North American Country Inns, Inc in the off-market sale of Hunstrete House Hotel, near Bath, to Von Essen Hotels for close to £5 million.
Jardin de Paris
Christie + Co’s Paris office has acted on behalf of the purchaser of a portfolio of 10 Jardins de Paris branded hotels. The hotels accommodate a total of 430 bedrooms and are located across the heart of Paris and the city’s inner suburbs in prime trading locations. Christie + Co has subsequently been re-instructed to sell on eight of the hotels.
The Thurrock Hotel
Christie + Co acted on behalf of the owners of The Thurrock Hotel to source new management for the 58-bedroom hotel in Essex. After a considerable amount of interest, shares were transferred to an experienced group of hoteliers.
Sale of The St David's Hotel & Spa
Christie + Co acted on behalf of Rocco Forte Hotels to identify a successful purchaser for the 132-bedroom St David's Hotel & Spa in Cardiff. Principal Hotels have agreed to acquire the property for £32.5m
Campanile Saumur Hotel
Christie + Co has announced the sale of the 60-bedroom Campanile Saumur hotel. Located in the middle of parkland and overlooking the Chateau of Saumur, the property also benefits from a conference room and restaurant.The hotel was purchased by private hotel investor, Henri Leboursicot.
Valuation of Crowne Plaza London - The City
UBS commissioned Christie + Co’s International Hotel Advisory Group to conduct a Valuation of Crowne Plaza London – The City to support the successful acquisition of the hotel by Italian property investor Gruppo Statuto. UBS provided debt finance, and required an RICS-complaint valuation for secured lending purposes.
Sale of three hotels for Wingrove Properties
Acting on behalf of Wingrove Properties, Christie + Co has sold three South East hotels to David Reuben Junior’s property firm — River Investment Group. The Wingrove family, owners of Galleon Taverns, have decided to retire from the hotel industry and focus on other business interests. The Wingrove portfolio includes the Boat House in Chertsey, Park Lodge Hotel in Teddington Village and the Thames Riviera Hotel in Maidenhead, which were successfully sold for £20 million to the River Investment Group.
Christie + Co advises Moorfield Group on Macdonald Hotels acquisition
Christie + Co successfully advised Moorfield Group on the acquisition of 24 Macdonald Hotels. The portfolio, which was marketed subject to management contract with the Scottish hotel operator, has a total of 2,511 rooms and includes the nearly completed development of Phoenix House, the former Royal and Sun Alliance Building, in Bristol. The deal will see Moorfield Group take ownership of their second hotel portfolio in as many years. In March 2006, the UK-based private property company bought 40 hotels in a £110m sale and leaseback deal with WA Shearings.
Christie + Co acts for Gloucester Capital in the acquisition of the Portman Hotel
The four star 272-bedroom Portman Hotel was recently acquired by Gloucester Capital, a new company created for the transaction, for an undisclosed amount. Christie + Co advised Gloucester Capital on the acquisition of this leasehold property, which is one of London's most famous hotels. Radisson SAS will continue to operate the hotel and it is anticipated that an extensive refurbishment will be carried out.
Acquisition of the Folio Hotel, Glasgow
Christie + Co acquired the Folio Hotel in Glasgow from Washington Hotels on behalf of private investors for an undisclosed price. Until recently, the hotel was operated by Corus Hotels, before being sold to Washington Hotels. The 121-bedroom hotel, which is located in Glasgow's city centre on Argyle Street, was susequently let to Folio Hotels on a 25-year lease. The hotel is due to undergo a substantial refurbishment programme over the next two years.
Swire Properties acquires Alias Hotels
Acting on behalf of LHM plc Christie + Co successfully negotiated the sale Alias Hotels to Swire Properties, which included the Hotel Kandinsky in Cheltenham, Hotel Barcelona in Exeter and Hotel Seattle in Brighton.
Oakley Court, Windsor
Oakley Court, Windsor, has been acquired by private investors for an undisclosed sum, off an asking price of £50 million. Christie + Co acted for Moat House Hotels in the successful sale of this property.
London and Birmingham Hilton Metropoles sell for close to £420 m
Acting on behalf of Hilton Hotels Corporation, Christie + Co announces the sale of the 1,054-bedroom Hilton London Metropole and the 794-bedroom Hilton Birmingham Metropole to the family-owned Tonstate Group for close to £420 million.
Carlton Hotel, Cheltenham acquired by Hotel du Vin
The Hotel du Vin Group has acquired the 75-bedroom Carlton Hotel in Cheltenham’s fashionable Montpellier district. Christie + Co was instructed to market the hotel on behalf of the Price family seeking offers in excess of £5m.
Britannia Hotels acquires Holiday Inns at Bolton and Leeds/Bradford Airport
Britannia Hotels has today acquired two Holiday Inn hotels at Bolton and Leeds/Bradford Airport. The hotels were sold by Christie + Co on behalf of LRG Acquisition Limited (LRG) — the consortium comprising Realstar Group, Lehman Brothers Real Estate Partners and GIC Real Estate. Britannia Hotels, which celebrates its 30th Anniversary this year, is the UK’s largest private hotel group. Following these latest acquisitions, the group now owns and operates 33 properties totalling more than 6,700 bedrooms.
Christie + Co negotiates the sale of the 27 hotel Marmotte portfolio
Christie + Co has negotiated the sale of the Marmotte hotel portfolio. The 27 budget hotels, which are spread in various locations across France, have been acquired by Didier Ferré, one of the country’s main hotel franchisees. Christie + Co acted as the sole agent in the sale of the freehold properties.
Christie + Co negotiates sale of The Scotsman Hotel Group
Christie + Co has announced the sale of The Scotsman Hotel Group. The Group, and its portfolio of three luxury hotels, has been acquired for £63 million by MBI International. Debt finance was provided by HBOS .
QHotels acquires Cheltenham/Gloucester Moat House
Christie + Co has announced the sale of the 120-bedroom Cheltenham/Gloucester Moat House, which was acquired by QHotels. This latest sale follows on from Moat House Hotels’ disposal of nine properties at the end of last year, to Jefferson Hotels LLP, for £100 million. The Cheltenham/Gloucester Moat House is QHotels’ seventh property.
Valuation of Ryder Cup venue
Christie + Co recently valued the lavish K Club — Kildare Hotel and Country Club — in Ireland, which was the venue for the 2006 Ryder Cup. Acting on on behalf of JSG Packaging, which is controlled by US venture capitalists Madison Dearborn, the valuation was completed by Christie + Co in preparation for the sale of the property. The resort hotel has 69 guest rooms/suites and two Arnold Palmer-designed golf courses. It was sold, together with various ancillary properties in Straffan and Dublin, to a group of investors that included the resort’s founder Dr Michael Smurfit, and developer Gerard Gannon.
