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Louvre Hotels offers its entire UK Campanile group for sale
Acting on behalf of Starwood Capital’s Louvre Hotels, the investment advisory firm Christie + Co is marketing the company’s UK group of 18 hotels, which comprises 17Campanile assets and one Première Classe-branded property.
These hotels, which are a mixture of freehold and long leasehold sites, are spread across the UK in key locations such as Cardiff, Glasgow, Birmingham, Liverpool, and Manchester. The 18-strong portfolio, which includes a Première Classe-branded hotel in Coventry, comprises 1,549 bedrooms in total.
Campanile is Louvre Hotels’ leading two-star chain, operating in nine European countries through a network of more than 380 hotels and restaurants.
Available with the benefit of a management contract with Louvre Hotels under its Campanile brand, this is a rare opportunity to acquire a whole group of hotels in one transaction.
Jeremy Jones, Director at Christie + Co, said: “The opportunity to acquire over 1,500 bedrooms in some of the UK’s best trading locations is something of rarity. To secure a leading flag on these assets by means of a management contract with Louvre Hotels makes this deal even more exciting.
“We anticipate a strong response reflecting the quality of the opportunity and the ability to keep growing one of Europe’s best known hotel brands.”
Offers in excess of £70 million are being sought for the 18 hotels.
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