Airport hotel sold in multimillion-pound deal
The Holiday Inn Birmingham Airport – NEC has been sold off a guide price of £33m.
JLL advised Crest Hotels on the sale of the 241 bedroom hotel to 11 Hospitality.
The hotel offers on-site parking, 14 meeting and conference rooms as well as leisure facilities and Marcos restaurant and bar facilities.
The hotel will continue to operate subject to a franchise agreement with InterContinental Hotel Group (IHG) under the Holiday Inn brand.
Gavin Wright, director, hotels and hospitality at JLL, said: “We are thrilled to have completed on this high profile sale. The Holiday Inn has benefited from significant investment and development since Crest Hotels acquired it in 2005.
“Birmingham offers strong investment opportunities, supported by the forthcoming Commonwealth Games in 2022 and the high speed rail link HS2 scheduled for 2026. This sales represents the largest single asset sale in the region during 2019 and follows our recent sale of the Hilton Garden Inn, Birmingham Airport in 2018”.
Jason Hiley, on behalf of the directors at Crest Hotels said: “The sale is part of a wider strategy to look for new opportunities after 14 very successful years of ownership. The strength of the business is a testament to the great team at the hotel, and the company is truly grateful for their hard work and dedication.”
Stevensdrake Solicitors acted for Crest Hotels and Adams & Remers for 11 Hospitality.
