Savills, acting jointly with JLL, has sold the Ramada Salford Quays (above) and Ramada Birmingham Mailbox on behalf of Shiva Hotels for in excess of the £21.5 million guide price. The hotels have been acquired by MCAP Global Finance, a UK subsidiary of the New York investment advisor Marathon Asset Management. The properties comprise 142 and 90 bedrooms respectively along … [Read more...]
Speakers confirmed for Master Innholders GM Conference 2016
The first wave of speakers have been confirmed for the Master Innholders 23rd General Managers’ Conference taking place 11-12 January 2016 at Grosvenor House, London, a JW Marriott Hotel. Launching this year’s theme ‘Excellence is No Coincidence’, conference chairman Stuart Bowery said he is delighted to be hosting the event: “I have the support of an organising committee … [Read more...]
London hotel searches fall by 24% during tube strike
Hotel searches to London have fallen by 24 per cent during the Tube strike, according to hotel search website trivago.co.uk. Searches made between 6th and 8th July for a hotel stay in London during the scheduled tube strike (8th to 10th July) were compared to the corresponding days during the previous week (Search period: 29th June to 1st July; Travel period: 1st to 3rd … [Read more...]
McAleer & Rushe sell regional hotel portfolio for £80m
McAleer & Rushe has sold a regional portfolio of Jurys Inn hotels to four separate purchasers for £80m reflecting a blended net initial yield of 6.9%. Rob Millar director at Steerforth who advised McAleer & Rushe on the sales said: “The company decided to take advantage of the strong regional hotel market in order to release capital for future development and … [Read more...]
Glasgow set to welcome three new hotels
With Glasgow set to welcome three new hotels in the coming months, which will collectively add nearly 400 rooms to the city’s accommodation stock, Glasgow City Marketing Bureau Chief Executive Scott Taylor believes developer confidence is at an all-time high. The 120-room Village Hotel will open at Pacific Quay this month, while the 170-room Travel Lodge will open its doors … [Read more...]