Ramada hotels up for grabs
THE Ramada Salford Quays and the Ramada Mailbox Birmingham have been put up for sale with two Manchester property agents hired to handle the deals.
JLL and Savills have been jointly appointed to dispose of the hotels. The Salford hotel and the Mailbox comprise 142 bedrooms and 90 rooms respectively including bar, restaurant, conferencing and business facilities.
The agents say both hotels represent an excellent opportunity for investors with attractive repositioning opportunities through rebranding to an international quality four star brand, along the lines of Starwood’s Four Points by Sheraton or DoubleTree by Hilton.
The Ramada Salford Quays enjoys a trading position close to MediaCity, and the Ramada Mailbox is located among the mixed-use Mailbox development which is currently undergoing a modernisation programme in excess of £50m.
Will Duffey, senior vice president in JLL’s hotels and hospitality team said: “Both the Greater Manchester and Birmingham hotel markets are performing exceptionally well and are consistently posting strong levels of room rate and occupancy growth.
“The location of these hotel assets, both with existing market share and exciting prospects for growth will appeal to investors.”
Rob Stapleton, director in Savills’ hotel investment added: “The flexible operational arrangements existing at both hotels provide potential purchasers with a variety of repositioning and rebranding opportunities to optimise performance and enhance future value.”
