Business
Christie + Co agree sale of P
Christie + Co agree sale of P.
About this update from Christie Group Plc
[{"type":"text","content":"\n RNS Number : 7290C Christie Group PLC 19 November 2009 \n \n\nChristie + Co agrees sale of\nPark Inn Hotel, Russell Square\nto Crimson Hotels Group\n \n19 November 2009\n\n\nChristie + Co, the professional services division of Christie Group plc, is pleased to announce that it has agreed the sale of the Park Inn London Russell Square on behalf of administrators Ernst & Young to Crimson Hotels Group, the independently-owned hotel company, for an undisclosed sum.\n\nLocated in the heart of the capital, this 214-bedroom hotel also features 14 conference and meeting rooms as well as a selection of bars and restaurants. \n\nFounded in 1995, Crimson Hotels currently owns and manages 11 hotels in the UK, Portugal and Dubai. Of the six UK hotels, the portfolio includes the Crowne Plaza Gatwick-Crawley and the Quality Hotel Heathrow.\n\nJeremy Jones, Director at Christie + Co, said: \"We are delighted to have agreed the sale of this landmark hotel to Crimson Hotels. It is a superbly located, freehold opportunity, which offers great potential.\n\n\"Christie + Co carried out over 50 formal viewings of the hotel in just over a month culminating in a combined £1 billion-worth of offers. What this process clearly identifies is that there is huge demand for central London hotels from well-funded UK, Far East, Middle East and US buyers.\"\n\n\nEnquiries:\n\nDavid Rugg 020 7227 0707\nChief Executive \nChristie Group plc\n\nPhilip Davies 020 7149 6000\nCharles Stanley Securities\n\nTom Cooper 0797 122 1972\nWinningtons\n\n\nNotes to Editors:\nChristie Group plc (CTG.L), quoted on AIM, is a leadin...