Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
The Chequers Hotel in Newbury, Berkshire, has been sold to MZaman Holdings Group, who add the property to its existing portfolio of nine UK hotels.
While the hotel has been sold for an undisclosed sum, the transaction was completed off a guide price of £2.65m.
Originally built in the late 18th Century, with later additions in the mid-19th Century, The Chequers Hotel is located close to the centre of Newbury town centre and features 56 bedrooms, a bar and restaurant, and an external rear terrace garden with a car park.
MZaman Holdings Group has already appointed Brilliant Hotel Collection to manage the hotel for the family.
Anoob Saban, the new owner, said: “I am delighted to welcome The Chequers Hotel to Brilliant Hotels Collection. It provides an excellent opportunity to showcase the ‘Brilliant’ standards and service.
“The property will be a valuable addition to our existing portfolio, and we are committed to the growth and development of this prestigious hotel.”
George Mavrommatis, the previous owner, added: “Whilst it is of course sad to be selling a business, now is the right time to step back. We wish the new owners every success during their ownership of this great and profitable hotel in Newbury town centre.
“Most importantly we would like to thank the staff, with whom we have shared this memorable journey, for their hard work and dedication.”
