Talash Hotels Group puts a portfolio of nine regional hotels on the market for OIEO £29.5m
09 October 2019JLL has been appointed by Talash Hotels Group as sole adviser to sell a portfolio of nine regional hotels with a guide price of offers in excess of £29.5m.
The portfolio comprises a total of 661 bedrooms and all hotels will be offered free from management. The hotels are primarily located in the Midlands and North West of England and include the Group’s flagship hotel, Stoke Rochford Hall near Grantham, Lincolnshire.
Four of the hotels are operated subject to the benefit of franchise agreements with Accor Hotels under their Mercure brand, which is a midscale brand of 3 or 4-star hotels, operating a total of 812 hotels across 62 countries. The portfolio includes:
• Mercure Birmingham North Baron's Court Hotel – 98 bedrooms
• Mercure Chester North Woodhey House Hotel – 75 bedrooms
• Mercure Warwick Honiley Court Hotel – 73 bedrooms
• Mercure Wigan Oak Hotel – 88 bedrooms
• Stoke Rochford Hall Hotel, Lincolnshire – 97 bedrooms
• The Allesley Hotel, Coventry – 90 bedrooms
• Chimney House Hotel, Cheshire – 51 bedrooms
• Huntley Arms Hotel, Aboyne – 51 bedrooms
• Quorn Country Hotel, Leicestershire – 38 bedrooms
Talash Hotels Group is owned by brothers and business partners Sanjay and Ravi Kathuria, acquiring their first hotel back in 2007.
Ravi Kathuria, CEO, Talash Hotels, comments: “The Talash Hotel Portfolio is a business that has been built up by myself and my brother Sanjay over the last 12 years and it has truly been a privilege to own such great hotels which have created an incredible journey. We have decided to continue to pursue our other business interests. Our hotels give an incoming buyer a value-add opportunity and are ready to be taken to the next platform to realise their full potential.”
Gavin Wright, director, JLL Hotels & Hospitality, said: "We are delighted to present to the market Talash Group’s portfolio of hotels. All nine properties provide an incoming purchaser a variety of asset management and significant value-add opportunities. With a value of circa £45,000 per bedroom for the portfolio we anticipate high levels of interest from a range of domestic and overseas investors.”