Wed, 26 Oct 2011 | BUSINESS SALE
Following the administration of owner Osborn Securities (Hotels), a trio of Hampton by Hilton hotels have been put up for sale.
The ‘premier budget’ hotels are currently operated under long-term management agreements with hotel giant Hilton under the Hampton by Hilton brand.
In total, the brand operates eight hotels in the UK, with another 12 expected to be opened over the coming 12 to 18 months.
The three hotels for sale include one in Braintree, which comprises 76 bedrooms, one in Shrewsbury with 75 bedrooms and one in Birmingham with 90 bedrooms.
They can be purchased either individually or as a group or sub-group, according to CBRE Hotels, which is marketing the three hotels for sale on behalf of the administrators.
CBRE’s Daniel Woodcock told Caterer Search, “The weak appetite within the debt markets means the challenges and costs involved in order to develop a product of this specification would be higher than the guide price on these hotels.
“This, coupled with Hilton's substantial growth plans for the Hampton by Hilton brand, creates the ideal opportunity for an investor to buy at the perfect time in the property cycle and enjoy excellent returns going forward", Mr Woodcock added.
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