Posted on 30/09/19 in Crest News
Crest Hotels has completed a deal to sell the 241-bedroom, Holiday Inn Birmingham Airport – NEC, to 11 Hospitality Limited.
The freehold property was sold for an undisclosed sum, off the guide price of £33 million.
Crest Hotels is a privately owned and managed hotel group and the sale of the Holiday Inn is part of a strategic plan to fund further expansion, with the group now on the lookout for new opportunities to grow the portfolio.
Crest Hotels is also investing in a major refurbishment of their existing property portfolio, including the newly acquired Feathers Hotel in Ludlow.
Professional services firm JLL, advised on the sale. Gavin Wright, director, Hotels & Hospitality at JLL, comments: “We are thrilled to have completed on this high-profile sale. The Holiday Inn has benefitted from significant investment and development since Crest Hotels acquired it in 2005. Birmingham offers strong investment opportunities, supported by the forthcoming Commonwealth Games in 2022 and the high-speed rail link HS2 scheduled for 2026. This sale represents the largest single asset sale in the region during 2019 and follows our recent sale of the Hilton Garden Inn, Birmingham Airport in 2018.”
The Holiday Inn, in Birmingham, is a 241 bedroomed property with substantial on-site parking, 14 meeting and conference rooms, as well as extensive leisure facilities and Marcos restaurant and bar facilities. The hotel will continue to operate subject to a franchise agreement with InterContinental Hotel Group (IHG) under the Holiday Inn brand.
Jason Hiley, on behalf of the Directors at Crest Hotels said “The sale of the Holiday Inn is part of a wider strategy to look for new opportunities after 14 very successful years. The strength of the business is a testament to the great team at the hotel, and the company is truly grateful for their hard work and dedication.
“We are now looking UK wide for further properties to add to the portfolio, as well as carrying out a programme of redevelopment of our existing portfolio, which has included some major investment to create some stunning properties, including the £xxx investment in the 17th Century Feathers Hotel in Ludlow and the £500,000 refurbishment Crest’s Holiday Inn Express in Knowsley.”
Stevensdrake Solicitors acted for Crest Hotels and Adams & Remers LLP for 11 Hospitality Limited.
Smart hotel with 86 bedrooms, just off the M57 close to football action, with Liverpool FC at Anfield and Everton FC at Goodison Park both 15 minutes’ drive away. Liverpool John Lennon Airport is 13 miles from the hotel and Liverpool Lime Street Station is eight miles away. Frequent buses to the city centre stop near the hotel. Aintree Racecourse, home to the Grand National, is five miles away.
Following a £1million refurbishment in 2019, the hotel is the ideal place to stay, whatever the reason.
Originally built in 1760, the Arnos Manor in Bristol has more than its fair share of history and tales.
This hotel is full of character, and boasts 73 en-suite bedrooms, flexible meeting and event space for up to 200 persons, and the recently refurbished lounge which is open daily to residents and nonresidents.
Located on the A4, the hotel is a short distance to all of the attractions Bristol has to offer. Only 30 minutes to the historic city of Bath and just 15 minutes to Bristol Airport.
Originally built in 1619, our Grade I listed hotel was purchased by Crest Hotels in December 2018. The hotel undergone a huge £2.5 m makeover but has, without doubt, retained all of its personality and iconic features.
Our hotel has 42 en-suite bedrooms, a bustling lounge and cocktail bar, Plume@Feathers restaurant with sumptuous surroundings, an elegant tea room, as well as numerous rooms suitable for meetings, conferences and private functions.
Originally two separate 17th century country houses set on the edge of the market town of Shifnal, The Park House Hotel is an elegant and luxurious building which combines modern amenities with traditional features.
This 54 bedrooms Hotel is an ideal base for exploring the myriad of sights in and around Shropshire, including the RAF Cosford Museum and the Historic Ironbridge Gorge. With a bustling lounge and restaurant with, and numerous rooms suitable for meetings, conferences, weddings and private functions.
Located in the heart of Mid-Devon just 10 mins from J27 of the M5 and close to both Taunton and Exeter, the hotel sits within two-and-a-half acres of mature gardens, with ample free parking.
With 69 spacious en-suite bedrooms, flexible conference and banqueting suites, for up to 200, popular bar and Gallery restaurant.
The new and snazzy 53 bedroom Almondsbury Interchange Hotel is the value for money hotel in the South Gloucester and Bristol area. Located on the northern outskirts of Bristol City, in the village setting of Almondsbury.
Almondsbury is located moments away from the M5 Jct. 16 and M4 Jct. 7. With Aztec West, Cribbs Causeway, The wave Almondsbury. Also with its close proximity to the Price of Wales Bridge, the ICC Wales is just 20 minutes drive away.
Currently under £1.5million refurbishment. 30 bedrooms and public areas already complete.
A grand Hotel and Spa located in Llandrindod Wells within the beautiful Elan Valley.
Ideal for a break away from it all in one of the 109 comfortable hotel rooms, enjoy delicious Welsh fayre in one of our two award-winning restaurants, or relax and unwind in the hotel spa.
The Metropole Hotel & Spa is also the perfect venue to host Business Events and Conferences, catering for gatherings of up to 300 people. Our Hotel is also proud to host some of the UKs most prestigious motoring group gatherings.
Avisford Park occupies a site measuring approximately 60 acres and comprises 140 en suite bedrooms, 15 meeting/function rooms, a bar, restaurant and 270 car parking spaces. Guests also benefit from extensive health and fitness facilities including a fully equipped gym, squash court, sauna and steam room, indoor and outdoor swimming pools, tennis courts and a golf course.
The Avisford Park hotel is located in close proximity to the south coast just north of the village of Walberton and 3 miles west of Arundel in the county of West Sussex. The hotel itself is situated just south of the A27 at the junction with Yapton Lane, providing convenient road access to the affluent town of Chichester, Portsmouth and Brighton. The hotel also has access to London via the A283, as well as by the train from both Arundel and Barnham train station which connect to London Victoria.