Investment firm purchases hotel
Ashford’s largest hotel has been sold to a real estate investment company as part of a multimillion-pound deal.
QHotels has run the Ashford International in Simone Weil Avenue and the Bridgewood Manor in Chatham along with 28 others around the UK.
But Aprirose has bought the business from Bain Capital Credit and Canyon Partners for a reported £525 million.
Chief executive Manish Gudka said the deal is part of a plan to boost the real estate portfolio, but said there are plans to develop the hotels.
The portfolio of 3,680 beds nationally will be managed by Redefine BDL Hotels.
Mr Gudka said: “The 26 hotels, spread throughout the UK, will add a new dimension to our asset diverse real estate portfolio and also offer us opportunities to further develop the portfolio to increase the number of beds available.”