100-bedroom city centre hotel sold to new operator
Best Western The Stuart Hotel in Derby has been sold to AG Hotels off a guide price of £4.95m.
This 100-bedroom venue, on London Road, is also home to a bar, restaurant and conferencing facilities.
Christie & Co acted for the private vendors in the sale of the hotel, who owned and operated the business for approaching 20 years.
Girish Grover, CEO of new owner group, AG Hotels, said: “We are delighted with our acquisition of Best Western The Stuart Hotel and have exciting plans to invest in and refurbish the property in due course.”
Gavin Webb, associate director – hospitality at Christie & Co, added: “Christie & Co are pleased to be able to announce the sale of this substantial central Derby hotel. Initial interest in the hotel was strong with competitive bidding. This latest sale to AG Hotels is evidence of their continued ambition to keep growing and become a major player in the hospitality arena. We wish them well with the operation of this long-established hotel.”