Bath Boutique Ltd. acquires its third hotel

In Bath, England, Bath Boutique Ltd. has purchased the One Three Nine Bath Hotel, its third acquisition in the city in five years. The acquisition was supported by finance from Royal Bank of Scotland.

"Bath is a city that is highly competitive for our industry but we do feel we have tapped into the right market for UK and overseas visitors looking for something a little bit special," Michael Jones, owner of Bath Boutique Ltd, said.

Michael and Sarah Jones purchased Brindleys Boutique B&B in 2011, followed by Grays in 2013. Bath Boutique is aiming to develop a small group of boutique guest houses and hotels in Bath.

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"Across all three properties, we are seeing an uplift in customer bookings this year…we are pretty much fully booked up until the end of October 2016 and beyond that bookings are looking very healthy."

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However, investors are heading into the new year with caution because performance is expected to dip, according to a JLL report.

The transaction, expected to be consummated in the first half of 2020, is still subject to regulatory approval and other closing conditions.

The China-based conglomerate also acquired the iconic brand's IP assets as part of the £11 million deal, with the brand expected to live on online.