The deal comprises three hotels, located in the Welsh capital Cardiff and the English towns of Cheltenham and Eastbourne. The acquisition was jointly made with Singapore-based Seacare Hospitality.
Compass’ president & CEO, Harmil Singh, commented; “We are very pleased with the portfolio acquisition of these three well located and profitable hotels. We will continue to seek out acquisitions and opportunities to grow our presence in the UK.”
The first Big Sleep Hotel opened in Cardiff in 1999. This 81-room property has later joined by a 60-key hotel in Cheltenham and a 50-room property in Eastbourne, which overlooks the English Channel.
The properties, which have been labelled “design hotel[s] for budget travellers”, all provide a restaurant, bar and meeting rooms.
The hotels now will be managed by Compass Hospitality, expanding the company’s UK portfolio to five hotels. Earlier this year Compass took over the management of hotels in Shrewsbury and Halifax, marking the group’s entry into the UK.
In total, Compass now operates a portfolio of 49 properties in Thailand, Malaysia and the UK.