Forte jettisons hotels in market upturn

AN UPTURN of interest by buyers of provincial hotels is helping Forte sell some of its unwanted properties which have been languishing on the sale shelf since April 1991.

Last week Forte sold the 54-bedroom Royal Hotel at Ventnor on the Isle of Wight to William Bailey, a director of the Royal Esplanade Hotel at Ryde on the island. Three years ago, when the property was first marked for disposal, an asking price of £750,000 was published but a sale price was not disclosed.

Patrick Ryan, of Christie & Co, which is marketing the Forte disposals, said there was activity in the provincial hotel market for the first time in a long while.

"There is an attraction to some of the Forte properties also because generally they are kitted out with the best- quality equipment," he said.

lRome's 112-bedroomHotel Eden, part of Forte's Exclusive Hotels portfolio, is to reopen in September following a complete refurbishment costing more than £10m.