Brightbay Real Estate Partners (BBREP) has sold a Holiday Inn Express in Southampton to UK-based Hunton Hotels for an undisclosed price.
The hotel, which is located just outside the city centre, offers 182 rooms and benefits from a diverse demand pool including the neighbouring Ageas Bowl cricket ground, home of Hampshire County Cricket Club.
Jack Wallsworth, associate in Cushman & Wakefield’s UK Hospitality team, which advised BBREP on the sale, said: “The hotel real estate market has faced challenges as a result of the higher interest rate environment. Yet despite this, well-placed freehold assets with strong demand fundamentals and ‘beds focused’ revenue streams – of which the Holiday Inn Express Southampton is a great example – continue to see good liquidity in the market. It was our pleasure to work with the team at BBREP on this deal and we congratulate Hunton Hotels and wish them all the best with their ongoing expansion.”
BBREP was advised by Cushman & Wakefield, CMS and Pinsent Masons on the sale.
