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UK: Frasers Hospitality has paid £36.1 million for four hotels in the south and west of England.
UK: Frasers Hospitality has paid £36.1 million for four hotels in the south and west of England.
The hotels were bought from Swire Properties Hotels Holdings through Frasers Hospitality subsidiary Malmaison and Hotel du Vin Property Holdings Limited, which it axcquired in June this year.
The new properties are the 75-room Avon Gorge Hotel in Bristol; the 59-room Magdalen Chapter in Exeter; the 60-rrom Montpellier Chapter in Cheltenham; and the 71-room Hotel Seattle in Brighton. All four continue to operate under their existing brands until 2016 when development plans will be revealed for each of the hotels.
They bring the total number of boutique hotels under the brands to 33 and the total number of keys to 2,347.
Frasers Hospitality chief executive Choe Peng Sum said: “These four stylish and iconic hotels in their respective cities are a perfect fit for Malmaison and Hotel du Vin, and this acquisition is clearly in line with the group’s expansion strategy of the brands within the UK, Europe and Asia. With these two best-in-class lifestyle brands, we are on track to achieve our goal of operating 30,000 keys by 2019.”
The acquisition brings Frasers Hospitality’s global portfolio to 136 properties across 78 cities and more than 22,000 keys worldwide, predominantly in the serviced apartment sector.
www.frasershospitality.com
www.malmaison.com
