THE Abbey Hotel Golf and Spa in Redditch has been sold as part of a deal that, including the Lea Marston Hotel, had a guide price of more than £20million.
JLL’s Hotels & Hospitality Group sold the hotel to Michels Ventures 2 Limited for an undisclosed sum off a guide price of £23million.
The Abbey has 99 bedrooms and significant meeting space, leisure facilities as well as golf courses, including the Championship standard Abbey Golf Course.
The sale follows Michels Ventures first purchase of the Cheltenham Park Hotel in 2015, headed by Sir David Michels. Both hotels will now be managed by Michels & Taylor.
Gavin Wright, director, JLL’s hotels & hospitality team said: “This was an exceptional opportunity to acquire a portfolio of award winning four star purpose-built hotels in central England.
“We are pleased to have secured new owners for both hotels following the owners plan to retire after 25 years of ownership.
“Prime locations combined with the hotels established leisure, conference, wedding and banqueting business proved hugely attractive to investors and as a result interest levels were very high. The interest is reflective of the current significant demand from both domestic and overseas buyers seeking good quality regional hotels.”
