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Village Hotel Club, the 33-strong hotel and leisure club operator, has announced the acquisition of the former Crowne Plaza site at Caversham Bridge, Reading for an undisclosed sum.
Under its plans, Village will transform the site at Caversham Bridge through a multi-million-pound investment and extensive renovation.
The plans are part of a wider investment programme, which was launched in September.
Village’s proposition also includes new bedrooms, a Pub and Grill, meetings and events space, a Starbucks coffee shop and health and wellness.
In addition to acquiring new hotels, Village plans to upgrade more than 50% of the portfolio, including bedroom and facility extensions, refurbishments to existing bedrooms and upgraded leisure and fitness offerings.
Ultra rapid electric vehicle charge points will also be installed across Village’s 33 UK locations.
Global real estate advisor, CBRE, advised on the sale of the Crowne Plaza Reading, on behalf of Brightbay Real Estate Partners, an affiliate of Starwood Capital Group.
Gary Davis, CEO of Village Hotel Club, said: “We are delighted to take ownership of our new site in Reading. Building on our successful conversion in Bracknell, the acquisition is another example of significant investment in the area and creates an opportunity to bring our unique and differentiated proposition to guests and local audiences alike.”
