Greene King eyes sale of 13 Venture Hotels-branded properties

Greene King is looking to offload around 13 of its Venture Hotels-branded properties for an undisclosed amount as part of an estate review. 

News comes after the brewer and pub group dropped its plans to sell the Venture Hotels division to RedCat Hospitality in June of last year, which reportedly bid some £90m for the portfolio of 39 hotels. 

The hospitality group, which operates approximately 2,700 sites across the UK including some 100 hotels, will be marketing the properties individually with Savills. 

The venues up for sale are said to be located across the Midlands and south of England, offering a combined 420 rooms. The hotels for sale include Ye Olde Talbot in Worcester, The Cromwell in Banbury and the Bear Hotel in Havant. 

According to Greene King, the sales of these properties would enable it to reinvest in its core estate priorities in line with its wider business strategy. 

A spokesperson for Greene King told Hospitality Week: “We regularly review our estate as part of our typical annual business activity. As a result, we have identified a number of sites within our Venture Hotels business that are being marketed for individual sale, which would enable us to reinvest in our core estate priorities in line with our wider business strategy.”