More UK and European hotels have been changing owner and management hands in recent weeks following a busier summer period.
Kew Green Holdings Ltd has acquired 19 Holiday Inn hotels from LRG Holdings that means the group now looks after 38 Holiday Inns.
The hotels are located in the UK and will continue to trade as Holiday Inn-branded hotels under a new franchise agreement. The hotels will all be refurbished in the next few years.
“This is an exciting acquisition for us which will enlarge our portfolio to 53 hotels with almost 6,700 bedrooms in total. These new hotels will all benefit from a comprehensive refurbishment programme to ensure they remain ‘Great Hotels Guests Love’,” said Paul Johnson, founder and CEO of Kew Green, which is the largest Holiday Inn franchise partner in Europe.
Management has also changed hands at the Hampton by Hilton Corby/Kettering and Park Inn by Radisson Doncaster, which are now both run by Branded Hotel Management (BHM).
“We are delighted to be involved in these two hotel projects, which have had some instability over the past few years with the former tenant. Now with us working directly with the hotels’ owner, we are better placed to develop the hotels and their businesses to ensure that we increase their share of both leisure and corporate business,” said BHM’s business development director Andy Townsend.
BHM has also been awarded the management of the new Pullman Liverpool which Accor is due to open in September 2015 at the Echo Arena.
Accor recently revealed the benefits of its franchise and investor-split business which also saw the hotel chain acquire 13 properties in the UK.
InterContinental Hotels Group (IHG) has been offloading some of its larger properties with its Paris hotel recently sold, although it will retain the management and brand name. It also sold off the Aphrodite Hills resort to TUI, which will become a Sensatori next year.
Meanwhile in the UK in August alone Kempinski ended its management contract with The Stafford; US-based Interstate signed contracts for eight European hotels and the owner of The Roxburghe signed a new management deal. Hallmark Hotels was also purchased by Topland with the management going to Bespoke Hotels, which also took over 12 Menzies Hotels in 2013.
Occupancy in European hotels increased to 68% in July 2014 with demand up 3.2% year-on-year, according to STR Global.
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