The Derbyshire Hotel Bought from US-Based Starwood Capital (Principal Hotels) by Serani Hotels for a figure in excess of £10m.

Date: December 2017

Location: South Normanton, Nr. Derby, Derbyshire UK

Name: The Derbyshire Hotel, four star

No. of Keys: 157

Seller: The Principal Hotel Company, formerly De Vere-branded.

Buyer:  Serani Hotels, owned by Ravi Ruparelia and Rajiv Nathwani.  The property is the first hotel acquisition for Serani Hotels, with further acquisitions planned, although Ruparelia acquired the Hunton Park hotel separately under his own company SR Hotels earlier this year off a guide price of £10m, also acquired from Principal.

A £3.2m refurbishment programme will take place over the next year, and the hotel will be repositioned and rebranded as a Holiday Inn. The hotel will continue to be managed by Countrywide Hotels, headed up by Darren Patt, himself also formerly with De Vere.

Along with the refurbishment of the bedrooms and communal areas, there will also be the creation of 55 new bedrooms, a signature restaurant and the introduction of a Starbucks lounge within the new open lobby.

Price: £10m

Price per Key: £63,694

THPT Comment: Good to see this hotel in private hands and being run by the very capable Countrywide Hotels. Congratulations to Messrs Ruparelia and Nathwani with Serani’s debut UK hotel.

First Seen: The Caterer