Wed, 27 Nov 2013 | BUSINESS SALE
The Grand Hotel in Brighton has been put on the market for £50 million, though the sale won’t be rushed the De Vere Group says.
The hotel will continue to trade as normal for the duration of the marketing and eventual sale process.
Its owners the De Vere Group spent over £7 million on refurbishments after the hotel was targeted by an IRA bomb during the Conservative Party conference in 1984, in an attempt to assassinate former Prime Minister Margaret Thatcher. The renewed hotel features a new spa (which opened this year), new restaurant and refreshed bedrooms and bar.
Christie and Co has been brought in to run the sale of the famous hotel, as the hotel sector enjoys a lift in activity.
Built in 1864, The Grand is one of 1,200 listed buildings in Brighton. The five-star hotel has 201 rooms and sits on the seafront. A deluxe king-sized room will cost £225 a night.
The De Vere Group has owned the hotel for over 20 years and is now looking to sell after having increased competition from the likes of newer branded hotels in the area, such as Hotel du Vin and Drakes.
The sale has already attracted strong levels of interest. A spokesman for the De Vere Group chief executive said: “We will not rush the sell the hotel. We will take our time and get the best deal.”
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