Peel Hotels puts Norfolk Royale hotel up for sale for £8.5m
Peel Hotels has put the freehold of its four-AA-starred, 95-bedroom Norfolk Royale hotel in Bournemouth on the market with a guide price of £8.5m.
Chairman Robert Peel told the Bournemouth Echo he wanted to clear the company's £5m debts before the end of the year.
He told the publication: "I am 75 years old now and I want to run a company with no debt at all so in that case we have to look at our portfolio of hotels and put them on the market. It could be that another hotel is sold so that the Norfolk Royale doesn't get sold."
Ed Bellfield, regional director – hotels at Christie & Co, which is marketing the property, said: "The Norfolk Royale hotel has an established reputation, appealing to predominantly leisure guests due to its close proximity to seven miles of golden beaches and the New Forest National Park.
"There is significant scope for an experienced owner/operator to invest in the site and benefit from its exceptionally unique and iconic location in the heart of Bournemouth."
