LRG completes Holiday Inn portfolio sale
The two hotels are located in Swindon and Portsmouth and will continue to trade as Holiday Inn hotels under new franchise agreements.
This brings Kew Green’s Holiday Inn portfolio to 40, making it the largest European franchisee of the brand, and its overall portfolio to 55 hotels across the UK.
“This is a truly exciting time for Kew Green. Holiday Inn is one of the most widely known brands in the hotel and leisure industry with strong commercial performance and family heritage that welcomes all,” said CEO Paul Johnson.
Portfolio sale
Kew Green has now taken over all 21 properties put up for sale by LRG last May, and committed to invest £25m across the estate for refurbishment.
Christie + Co, which handled the sale of the portfolio, estimated its value at £70m or over. At the time, LRG – which still operates 40 hotels under Intercontinental Hotels Group’s (IHG) brands – said the sale had been agreed after a ‘thorough review’, and expected the process to take six to 18 months.
The hotels included in the sale included:
- Holiday Inn Ashford, Kent
- Holiday Inn Rochester
- Holiday Inn Birmingham (M6 J7)
- Holiday Inn Stoke-on-Trent (M6 J15)
- Holiday Inn Chester South
- Holiday Inn Haydock (M6 J23)
- Holiday Inn Lancaster
- Holiday inn Runcorn
- Holiday Inn Warrington
- Holiday Inn Colchester
- Holiday Inn Ipswich
- Holiday Inn Norwich
- Holiday Inn Derby/Nottingham
- Holiday Inn Rugby/Northampton
- Holiday Inn Taunton (M5 J25)
- Holiday Inn Swindon
- Holiday Inn Leeds Brighouse
- Holiday Inn Leeds/Wakefield (M1 J40)
- Holiday Inn York
- Holiday Inn Portsmouth
- Holiday Inn Washington
Kew Green’s 15 other properties operate under the Holiday Inn Express, Crowne Plaza, Ramada Encore, Ramada and Courtyard by Marriott brands. The firm also operates The Richmond Hill Hotel in South West London and The Grand Brighton.
