New owner sought for Menzies Hotels for around £100m

A price tag of nearly £100m has been hoisted over the 15-strong Menzies Hotels group, two months after its parent company Cordial Hotels went into administration.

Christie + Co is handling the sale of the four-star portfolio which includes properties ranging in size from the 18-bedroom Flitwick Manor in Woburn to the 212-bedroom Menzies Aberdeen Airport.

One of the group's most successful hotels is the 78-bedroom Welcombe Hotel, Spa and Golf Club (pictured), Stratford-upon-Avon, which last year achieved a revenue of £5.4m.

Six of the hotels are leasehold or partially leasehold, while the rest are freehold.

A financial restructuring of the company has taken place over the past two years following talks with its lender, the Lloyds Banking Group, and it was agreed that £7m would be invested in upgrading some of its properties.

It has also introduced a new core ethos of "You're in a good place" throughout its breakfast service, welcome and farewell, bedrooms, business services and leisure stays, while the brand logo, signage, brochures and website have all been refreshed.

The sale of the group provides a rare opportunity to acquire a national hotel chain which comes complete with a head office, Bakum House in Mickelover, Derbyshire. However, offers will also be considered for individual hotels or groups of hotels.

Menzies Hotels in management buyout after parent company goes into administration >>

Menzies Hotels undergoes a brand refresh >>

Menzies Hotels goes into administration >>