Britannia Hotels has acquired the 278-bedroom Premier Inn Glasgow City Centre (Charing Cross) off a guide price of £8.5m.
Whitbread, which owned the hotel, is reconfiguring its network of hotels in Glasgow following the opening of the 249-bedroom Premier Inn and Bar + Block restaurant at St Enoch Square last June.
The acquisition is Britannia’s 64th hotel and takes its total room count to almost 12,300.
Alex Langsam, managing director at Britannia, said: “I am delighted with our latest acquisition which will be our fifth hotel in Scotland. Glasgow is a classic Britannia Hotels location where people come to work and play, and we will provide great value accommodation for these guests. This city-centre, high rise property joins the city, coast and country hotels we offer across our group which also includes Pontins Holiday Parks. We remain keen to grow our group further using the cash resources we have generated over the years which means we can move quickly to secure hotels on an all cash basis.”
Jeremy Jones, head of hotels brokerage at Christie & Co, said: “After a competitive bidding process we are delighted to complete this important sale to Britannia Hotels, which follows on the heels of our success acting in the sale of the Lorne hotel, Glasgow. We are experiencing higher demand for such city-centre hotels.”
Brian Sheldon, regional director of Scotland for Christie & Co, who supported the sale on a local level, added: “This is a prime example of the buoyancy across the Glasgow and wider Scottish hotel market at present, with the demand for accommodation across Scotland on the rise. We are currently speaking with buyers across all price points with genuine aspirations to add to their portfolios and often surpassing client expectations with local, wider UK and international buyers as a result.”
Start the working day with The Caterer’s free breakfast briefing email
Sign Up and manage your preferences below
You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!
The Vacherin team on maintaining boutique values under the CH&Co umbrella
The Caterer releases a digital version of the magazine every Wednesday morning. Make sure you’re logged in and subscribed to view each edition.
Up to £21255 per annum + Additional Benefits : Travel Trade Recruitment: Are you passionate about customer service…
Up to £25000 per annum: Travel Trade Recruitment: An amazing opportunity has arisen for a Travel Consultant, specialising…
Up to £24,000 plus excellent benefits: Succeed Recruitment Solutions: Are you looking for a role that will combine…
£30000.00 – £31600.00 per annum: C&M Travel Recruitment Ltd: Ticketing agent (sabre) required to work for this expanding…
Up to £23708 per annum: Travel Trade Recruitment: Are you a Customer Service Assistant looking for a New…
The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.
© 2019-2021 Jacobs Media Group
© {{year}} All rights reserved. Jacobs Media Group Limited is a company registered in England and Wales, company number 08713328. 3rd Floor, 52 Grosvenor Gardens, London SW1W 0AU.
We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.