Holiday Inn Doncaster sold to Westgate Healthcare
The Holiday Inn in Warmsworth, Doncaster, has been sold off a £6.5m guide price to Push and Sanjiv Patel of Westgate Healthcare, which is expanding into the hotel market.
It is the company's first hotel acquisition, on top of its eight care homes across Hertfordshire, Buckinghamshire and Greater London.
The 102-bedroom property is set out over three main buildings, including the Grade II-listed Warmsworth Hall, built in 1702.
Colliers International sold the property on behalf of MCAP Global Finance (UK), a subsidiary of New York-based investment adviser Marathon Asset Management.
Dr Sanjiv Patel, director of Westgate Healthcare, said: "We are very excited about taking on this hotel business. Whilst we will always remain committed to healthcare entering into the hospitality market is a fantastic opportunity for us. We look forward to working with IHG to develop the hotel and make it a top destination for guests and a great place for our staff to work."
Julian Troup, head of hotels agency at Colliers International, added: "The Patel family of Westgate Healthcare join an increasing list of a successful healthcare operators who have chosen to diversify into the hotel market. They will work alongside the long-established management team and workforce to further develop the successful trading business.
"We are seeing an emerging trend of increased demand for quality provincial hotel opportunities from a diverse buyer set, including international investors, who have been attracted by weaker sterling and improving trading prospects; private buyers attracted to the benefits of a lifestyle opportunity to corporate investors attracted to favourable returns and real estate alternatives."
BGAM Hotels acquires Holiday Inn Kenilworth >>
Two Holiday Inn hotels in Aberdeen enter administration >>
Starboard acquires two Holiday Inn Express hotels for £11.5m >>
Holiday Inn Express Edinburgh City Centre sold for £17.7m and under new management >>
Videos from The Caterer archives
