Three established UK hotels have been brought to market with a combined guide price of £18.5m.
The portfolio comprises the Castle Green Hotel, Kendal, with offers invited in the region of £10m; the Best Western Chilworth Manor Hotel, Southampton (£3.75m); and the Best Western Plus Angel Hotel (pictured), Chippenham (£4.75m).
Together, the hotels provide more than 240 guest bedrooms across three established hospitality destinations. Each operates under a Best Western brand and is managed by Legacy Hotels & Resorts on behalf of the owners.
The three hotels are being marketed individually, enabling buyers to acquire standalone assets, although the shareholders will also consider offers for two or all three properties as part of a portfolio transaction.
Stephen Broome, director of the hotel-owning companies, said: “These are established hotels with strong reputations in their respective regional markets. Following a strategic review, the shareholders have decided that this is the appropriate time to bring the assets to market as they refocus on other business interests. Each hotel has its own particular strengths and future potential, and we believe the sale process provides new owners with an attractive opportunity to build upon their established market positions and take the businesses through their next phase of development.”
Julian Troup, head of UK hotels agency at Colliers, which has been appointed to market the hotels, added: “Opportunities to acquire a portfolio of established, regionally significant hotels of this quality are relatively rare. Each asset has its own distinct identity and trading profile, while benefiting from recognised Best Western branding and experienced third-party management through Legacy Hotels & Resorts.
“The hotels attract a diverse mix of leisure, corporate, conference, events and wedding business, providing multiple revenue streams and strong regional market positions. Marketing the properties individually will appeal to a broad range of buyers, from owner-operators and regional hotel groups through to investors seeking high-quality hospitality assets, while the option to acquire multiple hotels creates an attractive opportunity for portfolio expansion.”
