Four Ibis Styles hotels, part of the AccorHotels brand family, have been put on the market and are reportedly being sold piecemeal or as a portfolio with a combined total price of around £33.15 million, reports UK's The Caterer.
The seller is New World Leisure; the hotels are: the 102-room Ibis Styles Haydock with a guide price of £4.5 million; the 117-room Ibis Styles Barnsley for £4 million; a long leasehold is available for the 112-room Ibis Styles Crewe for £6.25 million; and the 166-room Ibis Styles NEC Birmingham (pictured above) for around £18.4 million.
All four hotels have reportedly been recently renovated. New World Leisure and Alfred McAlpine originally developed the hotels under the Ramada Encore brand, part of Wyndham Hotel Group. Hotel management company Kew Green Hotels was appointed to manage the hotels in 2014 and undertook the rebranding.
Property advisor Knight Frank has been appointed by New World Leisure to sell the properties. "We are seeing an improved performance of hotels in the regions. PwC has forecast 77% occupancy rates this year and through to 2017, which would be a record for regional hotels and indicates buoyancy in the market. The marketing of these hotels represents strong growth in the sector, with these four top quality, recently rebranded hotels being a prime example of the high standard of stock being introduced," said Henry Jackson, partner at Knight Frank.