Kew Green Hotels buys Holiday Inn Bromsgrove
Kew Green Hotels has bought the Holiday Inn Bromsgrove out of administration for a price thought to be over £4m.
The four-star, 110-bedroom came to the market earlier this year on the instruction of David Oprey, Richard Toone and Adrian Hyde from Chantrey Vellacott, joint administrators of Pederson (Bromsgrove) Limited.
Property agents Christie + Co marketed the business, which was sold off an asking price of £3.95m.
Gavin Wright, director of hotels in Christie + Co's Birmingham office, said: "The Holiday Inn Bromsgrove is an excellent acquisition for Kew Green Hotels, adding to its 18 other Holiday Inn-flagged hotels. It is a well-invested, purpose-built hotel with extensive leisure, meeting and conference facilities, so meets all the requirements of the serious operator.
"The sale above the asking price is indicative of a growing strength in the UK hotel market, with sites both in London and regions such as Birmingham generating great interest and good prices."
Paul Johnson, chief executive of Kew Green Hotels added: "We are very pleased to have added this hotel to our growing portfolio of 24 owned and 12 managed hotels throughout the UK. We look forward to working with the hotel team to reinforce its position as the leading full service hotel in Bromsgrove, for both business and leisure travellers alike."
