Joint venture partners Vine Hotels and Castlewood Hotels have acquired The Gables Hotel on Bristol Road in South Gloucestershire from Webb Hotel Group for an undisclosed price.
The 46-bedroom Best Western venue is located on a 1.8-acre site off the A38, close to the M5 motorway to the north of Bristol.
It has meeting rooms for up to 200 delegates, a civil wedding licence for up to 150 guests and reception space for 200 guests. It also includes a Marco’s New York Italian restaurant and bar with seating for 80 guests, a refurbished bar accommodating 40 people, and a spacious patio area.
Garin Davies, chief executive of Vine Hotels, said: “The expansion of hotel and venue ownership and management is a key aim for us this year, and so the acquisition of The Gables Hotel has come during a busy and exciting period. I am delighted that we have been able to add two new hotels in two months, showing our commitment to growth.
“The Gables has great business development potential, with an ideal location for UK and international travellers visiting the Cotswolds and nearby tourist towns, while also serving commercial travellers commuting to Bristol and the wider South West region. We look forward to working with the hotel team to successfully grow the business in the months ahead.”
Angela Burns, chief executive of Webb Hotel Group, added: “I am pleased we have been able to secure the sale of The Gables and pass the hotel into the hands of experienced hoteliers who share our commitment to excellence in hospitality. We wish them every success and look forward to seeing the hotel prosper in the years ahead.”
Gavin Wright, founder of Enterprise Hotels & Hospitality, which alongside joint agents Simon Stevens Associates acted on behalf of the vendor, said: “We’re pleased to have successfully completed this sale on behalf of Webb Hotel Group. This deal reflects the ongoing confidence of investors in the UK hotel sector and the competitive appeal of properties in well-connected locations close to major cities. We now look forward to seeing the next chapter for The Gables under Vine Hotels’ ownership.”
Simon Stevens, founder of Simon Stevens Associates, added: “Following a competitive marketing process, we witnessed purchasers’ selective approach to the market, as investment yields continue to soften and price expectations continually come under scrutiny. In this instance, investors identified a clear strategic value-added opportunity and operational upside with the property and business that ultimately secured Vine Hotels’ commitment. We wish them well with their investment in repositioning the hotel business to capitalise on its future potential.”
