UK: Talash Hotels Group has appointed JLL to sell its portfolio of nine regional hotels, for offers in excess of £29.5 million.
The portfolio consists of 661 rooms, with hotels primarily located in the midlands and north-west of England. The sale includes the groups flagship property Stoke Rochford Hall, Lincolnshire. All the hotels will be offered free from management agreements.
Four of the hotels are operated as mercuries, under franchise agreements with Accor.
Talash Hotels Group is owned by brothers Sanjay and Ravi Kathuria, who acquired their first hotel in 2007.
CEO Ravi Kathuria said: “The Talash Hotel Portfolio is a business that has been built up by myself and my brother Sanjay over the last 12 years and it has truly been a privilege to own such great hotels which have created an incredible journey. We have decided to continue to pursue our other business interests. Our hotels give an incoming buyer a value-add opportunity and are ready to be taken to the next platform to realise their full potential.”
Gavin Wright, director, JLL Hotels and Hospitality, added: “We are delighted to present to the market Talash Group’s portfolio of hotels. All nine properties provide an incoming purchaser a variety of asset management and significant value-add opportunities. With a value of circa £45,000 per bedroom for the portfolio we anticipate high levels of interest from a range of domestic and overseas investors.”