Date: February 2018
Location: Heathrow Airport, UK (Terminals 1,2,3)
Name: Novotel London Heathrow Airport
No. of Keys: 166 (to be increased to 274)
Seller: The site is former HQ of the BAA (British Airports Authority)
Buyer: The Nine Group Hotel investment company Nine Group has opened the Novotel London Heathrow Airport T1, T2 & T3.
The development marks the largest addition to the Nine Group portfolio of 13 hotels operating under a myriad of brands including Crowne Plaza, Mercure, Holiday inn and Holiday Inn Express.
Vivek Chadha, founder of the Nine Group, said the hotel will become the flagship property for the company.
Price per Key: £180,723
THPT Comment: As stated before we respect the Nine Group for their strategy of building mid-range hotels, branded, in great locations.
First Seen: The Caterer