Popular city centre hotel changes hands

A highly regarded business hotel in Nottingham has been snapped up by London-based operator Hunton Hotels, with Countrywide appointed to manage the property.

The Holiday Inn at Castle Marina was previously part of an extensive portfolio owned by IHG Hotels & Resorts. The venue boasts 128 bedrooms, conference facilities, meeting space and a restaurant/bar.

The value of the deal has not been disclosed. It was brokered by JLL.

Hunton Hotels owner Akshay Dhamecha said: “We are delighted to have acquired the Holiday Inn Nottingham which will be added to our expanding hotel portfolio. We would also like to thank Gavin Wright and his team from JLL as well as all the other stakeholders involved in making this acquisition possible.”

Darren Patt, managing director of Countrywide Hotels, said: “We are extremely proud to be the chosen management company. A key focus for the hotel is to maintain business levels in this ever-challenging climate. The property offers great amenities to corporate guests and customers visiting the Nottingham tourist market.”

Gavin Wright, senior director, hotels at JLL, added: “We are delighted to have been able to facilitate the sale of the Holiday Inn Nottingham to Hunton Hotels Ltd. This is a compelling investment opportunity; the Holiday Inn Nottingham has traded exceptionally well over the last 12 months. The hotel attracted strong interest from various investors, leading to a competitive sales process resulting in multiple strong offers for this asset.”