Hotel bought in portfolio deal
A hotel in Rugby has been bought as part of a portfolio by expanding group Fairview Hotels.
The 111-bedroom Ibis Rugby East next to the M1, along with the Ibis Cardiff city centre and Novotel Newcastle Airport, have been bought from Land Securities and AccorHotels for an undisclosed sum.
The deal follows the purchase of four Novotel hotels from Land Securities and AccorHotels last December.
Fairview now has three hotels in the West Midlands, including Novotels in Coventry and Wolverhampton, and a further nine across the UK. It operates all the hotels in the group under franchise agreements with AccorHotels.
Neil Forbes, director of hotels at Fairview Hotels, said: “We are thrilled to be taking on these additional properties. We know and understand the Novotel and Ibis brands and believe they will be a great addition to our portfolio and further strengthen our relationship with AccorHotels.”