Locations: Good Coverage of the UK from Glasgow in Scotland to Leeds, Crewe, Norfolk, Stratford-upon-Avon to Cambridge
Names: Slaley Hall, The Queens Leeds, Oulton Hall to Cambridge Belfy…full list below
Guide Price: TBA…They Paid £525m for 24 Hotels in 2017, but have sold off some since
No. of Keys: TBA
The Opportunity: In a surprise move this week, Aprirose has appointed PwC to find a buyer for QHotels, a collection of some 20 four-star properties located across the UK.
Prospective bidders are understood to include turnaround funds and mainstream private equity investors.
QHotels’ portfolio includes Slaley Hall in Northumberland, The Queens in Leeds, Dunston Hall in Norfolk, and Ashford International in Kent. Most of the hotels have extensive grounds, Spa and many have golf.
The company has branded some of the hotels: Four DoubleTree by Hilton properties, two Delta by Marriott sites, and one Mercure.
The valuation of the business is unclear, although a number of parties which had looked at it said it required a substantial capital injection in the near term.
The company has sold off some prize assets since acquiring the full group in 2017, including the flagship Manchester Midland Hotel, for £115m in October 2018, sold to Pandox. Aprirose, which also owns hundreds of pubs, was founded in the 1980s by Mansukh Gudka, its chairman.
The full list of hotels:
Ashford International, Ashford, Kent
Belton Woods, Lincolnshire
Chesford Grange, Kenilworth
Crewe Hall, Crewe
Dunston Hall, Norwich
Oulton Hall, near Leeds
Norton Park, Winchester
Slaley Hall, Northumberland
Stratford Manor, Stratford-upon-Avon
Telford Hotel & Golf Resort, Telford, Shropshire
Cheltenham Chase, Gloucester (a Delta by Marriott)
Hampshire Court, Basingstoke
Nottingham Belfry, Nottingham (a Delta by Marriott)
Park Royal, Warrington, Cheshire
Queens Hotel, Leeds
Oxford Belfry, Thame (a DoubleTree by Hilton)
Glasgow Westerwood, Scotland (a DoubleTree by Hilton)
The Stratford, Stratford-upon-Avon (a DoubleTree by Hilton)
Forest Pines, Brigg, Lincolnshire (a DoubleTree by Hilton)
Holland House, Bristol (a Mercure)
Main Picture: Slaley Hall at dusk
Current Owner: Aprirose was the company to follow, having acquired Q hotels, selling off three/four flagships to get a fair amount of it’s £525m outlay back, was sitting pretty….and then came along Covid.
Flag and Management: A brand and sales/operating platform ready and waiting for the new owner
Financials: We assume PwC will have a full pack available
Tenure: Long leasehold in the main, with a ground-rent deal in place…a few freeholds
Guide Price: TBA
Date Posted: March 2021
THPT Comment: An opportunity to buy this serious Q Hotels portfolio…would suit an investor looking to enter the hotel market, or the UK hotel market specifically. Please contact THPT for more info.
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.