QHotels up for sale for £650m

QHotels, which has a portfolio of 27 hotels, has been put on the market for a price of £650m, according to reports in The Times. 

According to the reports, the private equity owner of QHotels, which was purchased by Sankaty Advisors and Canyon Capital Advisors last year, is seeking a buyer for its portfolio.

A spokesperson for the hotel chain said: “The hotel sector is showing strong financial performances and demonstrating good returns and that naturally generates significant interest in investment.

“In periods like this it’s absolutely normal for investors such as ours to look at the market and the opportunities that exist.”

The sale comes just four months after it bought six former De Vere Hotels.