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The 78-bedroom Ramada Hotel, located on Loughborough’s high street, has been sold for £2m.
The hotel has been acquired by a ‘Midlands-based hotel company’, who wish to remain anonymous. The new owners have a small portfolio of similarly sized hotels and aim to take the hotel onto the “next level of success”.
The three-star hotel features 78 en-suite bedrooms, public areas including the popular ‘Courtyard’ restaurant, five conference rooms, and a private car park for 65 cars.
Jonathan Wren, director of Colliers International, which handled the sale, said: “The Ramada has been operated since 2000 by experienced hoteliers who, during their period of ownership, invested considerable time and money undertaking a rolling refurbishment of the facilities, and establishing an excellent reputation within the Ramada family of hotels.
“Living as they did, a considerable distance from Loughborough, the owners decided to sell to concentrate on their other business interests.”
He added the sale is further evidence of the improving hotel market, and said that with the major banks once again looking to invest into the sector, Colliers is anticipating a busy 2016.
