Business
Christie + Co completes sale of hotel portfolio
Christie + Co completes sale of hotel portfolio.
About this update from Christie Group Plc
[{"type":"text","content":"\n \nRNS Number : 7283Q Christie Group PLC 03 September 2014 \n\n3 September 2014\n \nChristie Group plc\n\nChristie + Co completes sale of hotel portfolio\n \nChristie Group plc, ('Christie Group' or the 'Group'), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie + Co, its specialist provider of agency and advisory services, has advised on the sale of 19 Holiday Inn hotels by LRG Holdings Ltd ('LRG') to Kew Green Holdings Ltd ('Kew Green'). \nKew Green completed the acquisition from LRG, bringing its portfolio of Holiday Inns to 38 and making it InterContinental Hotels Group's largest Holiday Inn franchise partner in Europe.\n\nThe hotels are located throughout the UK in prominent cities and commercial centres. They will continue to trade as Holiday Inns under a new franchise agreement and will all undergo extensive refurbishment over the next few years.\n\nThe nationwide portfolio, brought to the market by specialist property adviser Christie + Co in May, was sold for significantly above the £70 million guide price.\n\nJeremy Hill, Director & Head of Hotels at Christie + Co, says: \"Kew Green's acquisition of this portfolio once again demonstrates the strong demand for well-located regional hotels, following the sales by Christie + Co earlier this year of the Menzies and QMH hotel portfolios in the UK - like the LRG package, sold for over the original guide price.\"\n \nEnquiries:\n \n\n\n\n\nChristie Group plc\n\n\n\n\n\n\n\nDavid Rugg\nChief Executive\n\n\n020 7227 0707\n\n\n\n\nDaniel Prickett\nChief Financial Officer\n \n\n\n020 7227 0700\n\n\n\n\nCharles Stanley Securities\nNominated Adviser & Broker\nRussell Cook / Carl Holmes\n\n\n\n020 7149 6000\n\n\n\n\n \n \nNotes to Editors:\nChristie Group plc, quoted on AIM, is a leading professional business services group with 43 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.\n \nChristie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie + Co, Pinders, Christie Fi...