Business
Sale of significant UK hotel portfolio
Sale of significant UK hotel portfolio.
About this update from Christie Group Plc
[{"type":"text","content":"\n \nRNS Number : 7642O Christie Group PLC 11 August 2014 \n\n11 August 2014\n \nChristie Group plc\n\nSale of significant UK hotel portfolio successfully brokered by Christie + Co\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 successfully brokered the sale of eleven QMH UK hotels. \n \nThe hotels have been acquired for an undisclosed sum by Marathon Asset Management after Christie + Co brought them to the market in February following a highly competitive sales process.\n \nThe nationwide portfolio consists of approximately 2,000 bedrooms within three Crowne Plaza hotels, seven Holiday Inn hotels and one Best Western PLUS in key trading locations from Glasgow to Plymouth. \n \nJeremy Hill, Christie + Co, says:\"This was a rare opportunity to acquire a ready-made portfolio of hotels with a profitable trading profile. The group has benefited from an ongoing extensive multi-million pound refurbishment programme with recent investments in key assets including Crowne Plaza Glasgow, Holiday Inn Stratford-upon-Avon and Crowne Plaza Chester.\"\n \n\"Marathon Asset Management has acquired a strong portfolio that gives it a platform from which it will be able to fulfil its ambitions for further hospitality investments in the UK and continental Europe. With business travel accelerating in the UK, the portfolio's footprint covers markets that are extremely well-positioned for future growth. Marathon intends to further accelerate the portfolio's growth through a substantial investment programme.\"\n \n \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\n\n\n\n\n\n\n\n\nDaniel Prickett\nChief Financial Officer\n \n\n\n020 7227 0700\n\n\n\n\nPeter Fermoy\nChristie + Co Head of Media Relations \n\n\n020 7227 0794\n\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...