Poor summer season sparks hotel sell-off in Blackpool

Two hundred hotels, guests houses and self-catering units valued at £57m in total are for sale in Blackpool as another poor tourist season triggers an exodus from visitor accommodation.

The figures are contained in local newspaper the Blackpool Gazette's latest issue of its Commercial Property Finder supplement.

Gareth Eagle, commercial valuer at Broomheads estate agent in the town, said: "It's alarming so many people are wanting to sell up during the season and we're expecting more when it ends.

"Some hoteliers are after a quick sale and have had to knock £10,000-£20,000 off their asking price in order to get a sale. It's a tough time."

Eagle said a lack of families visiting the resort was a major factor behind the sales. He added: "A lot of hoteliers don't want to deal with the stress of having drunken stags and hens in their hotels and feel it's becoming a weekend trade.

"From the feedback we receive from sellers, that and the supercasino disappointment are the biggest reasons for selling.

"We have around 150 hotels up for sale and to let and the figure is growing. The market is saturated and that is slowing it down. It isn't that demand isn't there though."

Many former guest houses are bought my private landlords who rent them out as multi-occupancy homes to social services benefits claimants, causing house price inflation that takes the cost of stock out of the reach of local first-time buyers.