Sanguine sells hotel management business
A US-based hotel operator has bought the hotel management arm of Liverpool-based Sanguine Hospitality.
It marks an entry into the UK market for Interstate Hotels and Resorts, a joint venture between US-based Thayer Lodging Group and China’s Jin Jiang Hotels.
The value of the deal was not disclosed.
Sanguine operates 14 hotels including the Hotel Indigo & Marco Pierre Steakhouse Bar & Grill in Liverpool, Holiday Inn Express Hoylake and Doubletree by Hilton Chester. It also has a management contract for Doubletree by Hilton in Liverpool, which is not yet open, and a Hotel Indigo in Manchester which has not yet been built.
Sanguine’s controlling shareholder and chairman Simon Matthews-Williams said: “While we have enjoyed significant success through organic growth and a strong market reputation, our new relationship with Interstate puts us on an entirely new level and provides a platform to achieve step change growth.
“From our initial meetings, it was clear that Interstate identified Sanguine as a progressive, successful and ambitious business. We are confident that this is the right move at the right time, not just for the business, but also for our excellent staff and loyal customers across our portfolio.”
Jim Abrahamson, Interstate’s chief executive, said: “It’s incredibly gratifying to see Interstate’s global footprint continue to grow, delivering on our overall expansion strategy.
“As full UK operations join our established Interstate Europe platform in Russia and Continental Europe, we look forward to our alliance with Sanguine and their exceptional teams. This relationship strategically positions Interstate for abundant future growth and opportunities throughout the region, and our global operating experience paired with long-standing, beneficial relationships with top international brands promise a successful future between Interstate and Sanguine.”