New World Hospitality has purchased the 105-bedroom BLOC Hotel Birmingham for an undisclosed price from Arora Group in an off-market deal.
The purpose-built, freehold hotel, which is located in Birmingham’s Jewellery Quarter, has traded strongly since it opened in 2011.
Vijay Sharma, principal of New World Hospitality, said: “We are delighted to add another hotel to our growing portfolio. BLOC Hotel Birmingham represents a strong strategic fit for our organisation, combining robust operating fundamentals with a proven concept. We are fully committed to investing in the continued enhancement of the asset and further strengthening its position within the Birmingham market.”
Sanjay Arora, chief executive of Arora Group, added: “We continually review our portfolio to ensure alignment with our long term strategic objectives. While BLOC Birmingham has been a strong performer during our ownership, it was identified as non-core to our future plans. We’re pleased to have completed this transaction with New World Hospitality and wish them continued success with the property.”
Gavin Wright, founder of Enterprise Hotels & Hospitality, said: “We’re pleased to have successfully brokered this off-market transaction on behalf of the Arora Group. BLOC Birmingham’s exceptional performance and location make it a standout asset and we’re excited to see its next chapter under New World Hospitality’s leadership. This deal reflects robust investor confidence in the UK hotel sector and the continued appeal of prime, well-located properties.”
Dentons provided legal advice to Arora Group on the deal and Keystone Law represented New World Hospitality.
