UK: Singaporean-based hospitality investor Fragrance Group has acquired the Grand Atlantic Hotel in Weston-super-mare from Coast & Country Hotels for an undisclosed sum.
18 Coast & Country hotels were brought to market for individual sale by Christie & Co in May this year.
The 72-room Grand Atlantic Hotel is housed in a Victorian building on the seafront of Weston-super-mare, providing views of the Bristol Channel.
RBH Hospitality Management, current operators of 10 hotels owned by Fragrance Group, have been appointed to operate the Grand Atlantic.
Jeremy Jones, head of hotel brokerage at Christie & Co, said: “We are delighted to announce The Grand Atlantic, Weston-super-Mare will be joining Fragrance Group’s growing list of leisure and city centre-based UK hotels.
“The property is one of the 33 leisure-focused hotels that we are currently marketing on behalf of Coast & Country, which have received very strong interest to date. Positioned in leading resort and leisure destinations across England, Scotland and Wales, the portfolio represents some of the best-known hospitality businesses in their respective markets. A number of these assets remain available, and we invite any interested parties to get in touch.”
Enquiries regarding the remaining Coast & Country Hotels on the market should be directed to Jones or Ed Bellfield, regional director – south hotels at Christie & Co.
Martin Rogers, representing Fragrance Group, said: “The Grand Atlantic Hotel is a wonderful addition to Fragrance Group’s growing portfolio, and we are delighted to be able to continue investing in the UK regional markets, in particular seaside destinations.”
James Greenslade, director of hotel capital markets at Savills, alongside James Barnett, legal director at Foot Anstey, acted for Fragrance Group in the acquisition.
