The Hotel Collection, represented jointly by Savills and Rothschild, has brought to market a portfolio of 10 regional UK hotels known as Project Solstice for a guide price in excess of £130 million.
The sale includes The Majestic Hotel in Harrogate. The 170-bedroom property dates back to the early 1900s and is set within 8 acres (3.2 hectares) of private gardens. Now a 4-star hotel, it also features a health club, restaurant, two bars and 15 conference rooms catering for up to 500 delegates.
The hotels, which feature a combined total of 1,433 bedrooms and 111 meeting rooms plus numerous restaurants, gyms and health spas, produced a total revenue of £48 million in 2015.
In England, the portfolio also includes The Old Ship Hotel, Brighton; The Redworth Hall Hotel, County Durham; The Imperial Hotel, Torquay; The Billesley Manor Hotel, Stratford-upon-Avon; The Imperial Hotel, Blackpool and The Shrigley Hall Hotel, Golf and Country Club, Macclesfield. In Scotland and Wales, it encompasses The Stirling Highland Hotel, Stirling; The Aberdeen Altens Hotel, Aberdeen and The Angel Hotel, Cardiff.
Martin Rogers, head of UK hotel transactions at Savills, comments:
We are pleased to be bringing this significant collection of hotels to market.
The distinctive heritage and character of each property has been maintained while generating a robust collective income.
The portfolio also offers numerous value-add and asset management opportunities to further enhance the long term revenue.