BGAM Hotels acquires Holiday Inn Kenilworth
Situated in Kenilworth town centre, the property has a Marco's New York Italian and an onsite Starbucks café, as well as existing planning permission for a 17-bedroom extension. BGAM will retain current management and employees.
The purchase of the Kenilworth property takes BGAM's portfolio of hotels up to six.
Jonny Levy, BGAM hotels director, said: "This is a strategic purchase within an exciting sector that has significant opportunity for revenue growth. Following this successful purchase the team will continue to focus their efforts in expanding within the hotel sector."
Gavin Wright, director, JLL's hotels & hospitality group, who advised on the sale, added: "JLL's Hotels & Hospitality Group have successfully completed on three IHG branded hotel sales over the past three months and with a further four IHG branded assets currently being marketed we anticipated that 2017 will be a buoyant year for regional UK hotel transactions."
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