India-based Deventure Hotels & Resorts secures first UK property

The New Bath Hotel & Spa near Matlock Bath, Derbyshire, has been sold to Deventure Hotels & Resorts, an India-based conglomerate looking to expand into the UK hotels market.

The 54-room property features a bar, restaurant, conferencing facilities, spa and a spring water fed open-air swimming pool set within 4.5 acres on the edge of the Peak District National Park.

Plans are under-way to relaunch the hotel this summer following a comprehensive refurbishment.

Deventure Hotels & Resorts was originally founded as a pharmaceutical company in 1994 but has since moved into the hospitality and wedding sector, with properties such as Deventure Delhi, Deventure Shimla Hills and Deventure Karnal.

Christie & Co, who handled the sale, noted there is potential to create additional letting bedrooms subject to planning permission.

Rohan Mukul, a spokesperson for the Deventure group, said: “We are happy that the New Bath Hotel & Spa marks our inaugural venture in the UK. This marks the beginning of our journey to further expand and establish a significant presence in the British hospitality market.”

Gavin Webb, associate director at Christie & Co, added: “We are delighted to have completed the sale. The transaction is yet another example of a good quality hotel being sold by Christie & Co in Derbyshire. The regional market remains positive and buyer appetite is strong for similar opportunities.”

Terms of the deal were not disclosed.