Savills and CBRE Hotels, on behalf of administrators at Deloitte, have sold Sketchley Grange Hotel & Spa in Burbage, Leicestershire to a private investor from a guide price of £7.5 million. The 96-bedroom property will be managed by Focus Hotels under a long term management agreement. It features wedding and event facilities, meeting and conference space, a fitness … [Read more...]
The Eden Hotel Collection and RSC acquire Stratford hotel
The Royal Shakespeare Company (RSC) and prestigious Eden Hotel Collection have joined forces to acquire the Grade II listed Caterham House Hotel in Stratford-Upon-Avon. Located on Rother Street, just a few minutes’ walk from the centre of Stratford-Upon-Avon and the Royal Shakespeare Theatre, Caterham House Hotel has 10 en suite letting bedrooms alongside several reception … [Read more...]
J D Wetherspoon toasts £5.6 million purchase of The Union Rooms, Newcastle
K/S Westgate, represented by Savills and its Denmark-based associate Nybolig Erhverv København, has sold The Union Rooms on Westgate Road in Newcastle upon Tyne to JD Wetherspoon for £5.6 million, reflecting a net initial yield of 5.75%. The five storey property is let in its entirety to Wetherspoon until 2034. It benefits from a high footfall location opposite Central … [Read more...]
Food sales soar to £15 million across St Austell managed pub estate
An increasing taste for fine dining amongst pub-goers – including no less than 3,500 lobsters sold in 2015 - has helped food revenue at St Austell Brewery’s 25 managed pubs top £15 million this year. The milestone comes after more than a decade in which the Brewery has been at the forefront of raising the bar on pub food, changing perceptions and driving demand for high … [Read more...]
London hotel decline in occupancy in November
STR Global’s preliminary November 2015 data for London, England, indicates decreases in several key performance metrics. Based on daily data from November, London reported: an increase in supply (+1.7%) and a decrease in demand (-1.9%); a 3.5% decrease in occupancy to 81.6%; a 2.2% increase in average daily rate to GBP149.98; and a 1.4% decrease in revenue per … [Read more...]