Property

Six Hilton hotels sold for £40m

Six regional Hilton hotels have been sold for a guide price of £40m to individual and undisclosed buyers.

The hotels are located in Basingstoke (141 rooms), Bromsgrove (146 rooms), Dunkeld (98 rooms), Newbury (109 rooms), Newport (148 rooms) and Swindon (171 rooms).

All of the properties have been purchased by individual buyers and, with the exception of Swindon, have been acquired free and clear of the current Hilton branding and management upon completion of their agreed notice periods.

Jeremy Jones, head of hotels brokerage at Christie & Co, which handled the sale, said: “We are delighted to bring this successful campaign to an end.

“The properties were offered on a whole, sub-group or individual sale basis and we were able to leverage our knowledge of the sector and the players within it to run a competitive sales process, culminating in all sites selling on an individual basis.

“All of the buyers have recognised the individual opportunities on offer which illustrates the shift in focus to single asset sales.”

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