Seaside hotel changes hands

A seaside hotel has been sold in a deal worth around £450,000.

Property adviser, Christie & Co, has brokered the sale of The Queens Hotel in Skegness.

The hotel has been owned and operated by Ran and Yuan since 2020. They have sold the venue to Sodhi Managements.

The vendor said: “We are happy to pass the hotel to Sodhi Managements. Skegness is England’s fourth most popular holiday destination, with over 1.4 million visitors each year, attracted to its sandy beach and seafront attractions including Nature land Seal Sanctuary, museum, aquarium and more. There’s also the town’s annual carnival, arts festival and other activities, attracting people from all over the country. We wish Sodhi Managements every success in the future.”

Matt Hill, senior business agent at Christie & Co, said: “The Queens Hotel has been a very popular hotel opportunity, and demonstrates the strong demand we are currently seeing in the market for well-positioned and well-maintained businesses in tourist locations.”

The hotel was sold off an asking price of £450,000.