First-round offers invited for 15-strong Menzies Hotel
A deadline has been set for first-round offers for the 15-strong Menzies Hotels group, three months after its parent company Cordial Hotels went into administration.
Property group Christie + Co, which is handling the sale, said that the portfolio of predominately four-star hotels - including properties from the 18-bedroom Flitwick Manor in Woburn to the 212-bedroom Menzies Aberdeen Airport - has been achieving "impressive" growth in sales and profitability during 2013.
A price tag of around £100m has been suggested as a guide price for the group, which has seen around £7m being invested in upgrading its hotels over the past two years.
Jeremy Jones, director of corporate hotels at Christie + Co, said: "The response of the market to the availability of Menzies Hotels has been highly encouraging. This is an excellent opportunity to acquire a profitable hotel group which provides an excellent platform for further expansion."
The deadline for first-round offers for the group, which includes a freehold head office in Mickelover, Derbyshire, is Friday 6 September.
The full portfolio of Menzies Hotels, made up of sic leasehold or partially leasehold and nine freehold properties, includes:
- Menzies Aberdeen Airport, Dyce
- Menzies Birmingham, Stourport Manor
- Menzies Birmingham City, Strathallan
- Menzies Derby, Mickleover Court
- Menzies Cambridge
- Menzies Glasgow
- Menzies Irvine
- Menzies London Chigwell, Prince Regent
- Menzies London Gatwick, Chequers
- Menzies London Luton, Strathmore
- Menzies Stratford-upon-Avon, Welcombe
- Menzies Swindon
- Menzies Woburn, Flitwick Manor.
New owner sought for Menzies Hotels for around £100m >>
Menzies Hotels goes into administration >>