Airport hotel sold in largest deal in region this year
AHOTEL at Birmingham Airport has been sold in a multimillion-pound deal. The 241-bedroom Holiday Inn, in Coventry Road, has been acquired from Crest Hotels by 11 Hospitality for an undisclosed sum close to a guide price of £33 million.
The full-service hotel also has 14 meeting and conference rooms, leisure facilities and the Marcos restaurant and bar.
It will continue to operate, subject to a franchise agreement with InterContinental Hotel Group, which owns the Holiday Inn brand.
Jason Hiley, group operations director of 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.”
Property consultancy JLL acted for Crest Hotels on the sale. Gavin
Wright, director of hotels and hospitality at JLL, added: “We are thrilled to have completed on this highprofile sale.
“The Holiday Inn has benefitted from significant investment and development since Crest Hotels acquired it in 2005.
“Birmingham offers strong investment opportunities, supported by the Commonwealth Games in 2022 and HS2 scheduled for 2026.
“This sales represents the largest single asset sale in the region during 2019 and follows our recent sale of the Hilton Garden Inn at Birmingham Airport in 2018.”
Stevensdrake Solicitors and Adams & Remers also acted on the deal.