Date: November 2018
Location: Southampton Waterfront, Hampshire, UK
Name: The Grand Harbour Hotel – four star
No. of Keys: 173
Seller: Westmont Hospitality Group, founded in 1975 by the Mangalji family in Canada, now owners of 500 hotels over three continents, under brands such as Accor, IHG, Hilton, Marriott, Wyndham & Choice!
Buyer: Fattal Hotel Group has acquired the leasehold of the iconic Grand Harbour Hotel in Southampton from hotel operator and manager, Westmont for €33m (£29m).
The Grand Harbour will be operated by Jurys Inn and Leonardo Hotels UK and Ireland and expected to rebrand over the coming months.
The Grand Harbour, situated on the Southampton waterfront, features two dining experiences – Marco Pierre White, and the Hamtun Bar and Bistro; 13 meeting and event rooms with a total capacity of 500 people, and a state-of-the-art spa and gym.
Commenting on the acquisition, David Fattal, CEO of Fattal Hotel Group, said: “We are delighted to have acquired the Grand Harbour Hotel in Southampton, which is another step in our strategic plan to extend our foothold in the UK and to position the Group as one of the UK’s most significant hotel owner and operators.”
Jason Carruthers, Managing Director of Leonardo and Jurys Inn Hotels UK and Ireland, said: “This is a truly exciting time for the Group as we expand our offering in the UK with this iconic luxury hotel in a key city like Southampton.
We continue to look to grow and strengthen our portfolio and hotel network and will pursue further appropriate and commercially attractive new development and acquisition opportunities as they arise.
We look forward to working together with the employees at the Grand Harbour Hotel to deliver exceptional experiences for our guests and drive the performance of the hotel.”
Price per Key: £167,630
THPT Comment: The Grand Harbour is an imposing hotel, originally opened under the De Vere banner in 1994. Great addition for Fattal/Jurys.
First Seen: Europe Real Estate