QHotels puts Park Royal up for sale
QHOTELS has appointed Christie + Co to sell four hotels on its behalf, including the 146-bed Park Royal hotel at Stretton, near Warrington.
The Leeds-based chain, which is owned by private equity firm Alchemy Partners, has said the four-star hotel was one of four properties which it has decided are no longer central to its operations following a strategy review.
Christie + Co is also selling the other three properties on its behalf – Aldwark Manor Golf & Spa Hotel in Alne, near York; Bridgewood Manor Hotel in Chatham, Kent and the Stratford Hotel in Stratford upon Avon.
Martin Davis, director and location manager at Christie + Co, said: “With their high quality bedrooms, meeting and conferencing facilities and superb leisure and spa amenities, these four QHotels assets are certain to generate tremendous interest from both existing hotel operators and a variety of investors.”
Christie + Co said it is seeking first-round offers for the four hotels – either on a group or individual asset basis – by May 11.
The last filed accounts for QHotels Group, which also owns the Midland Hotel in Manchester, the Crewe Hall in Chester and the Queens Hotel in Leeds, show a pre-tax loss of £20m in 2010 on turnover of £117.7m.
