The Holiday Inn Birmingham Airport – NEC Sold off a Guide Price of £33m
Main Photo: The Holiday Inn Birmingham Airport
Date: August 2019
Location: Birmingham Airport, close to the NEC
Name: The Holiday Inn Birmingham Airport – NEC
No. of Keys: 241
Seller: Crest Hotels, a private hotel group with now four hotels – Holiday Inn Express Liverpool, the Feathers at Ludlow and two unbranded hotels in Bristol. Crest is owned by The Singh family – Daljit, Gurjinder and Parminder
Buyer: 11 Hospitality, owned by the Kansagra family – Bhupendra, Ramesh and Rajni
The hotel offers on-site parking, 14 meeting and conference rooms as well as leisure facilities and Marcos restaurant and bar facilities.
The hotel will continue to operate subject to a franchise agreement with InterContinental Hotel Group (IHG) under the Holiday Inn brand.
Gavin Wright, director, hotels and hospitality at JLL, said: “We are thrilled to have completed on this high profile sale. The Holiday Inn has benefited from significant investment and development since Crest Hotels acquired it in 2005.
“Birmingham offers strong investment opportunities, supported by the forthcoming Commonwealth Games in 2022 and the high speed rail link HS2 scheduled for 2026. This sale represents the largest single asset sale in the region during 2019 and follows our recent sale of the Hilton Garden Inn, Birmingham Airport in 2018”.
Jason Hiley, Group Operations Director at Crest Hotels said: “The sale is part of a wider strategy to look for new opportunities after 14 very successful years of ownership. The strength of the business is a testament to the great team at the hotel, and the company is truly grateful for their hard work and dedication.”
Stevens Drake Solicitors acted for Crest Hotels and Adams & Remers for 11 Hospitality.
JLL advised Crest Hotels on the sale of the hotel.
Price: Around £33m
Price per Key: £136,929
THPT Comment: Crest are building up a nice portfolio of hotels, with the Feathers Ludlow coming into the fold recently…11 Hospitality we don’t know much about, but the Holiday Inn is a nice coup for their first hotel outside of London? We believe they are owners of One Aldwych in London. More to come? what happens if they end up with more than 11 hotels? Good buy price.
First Seen: The Business Desk West Midlands
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