Talash brings hotels to market
Two hotels in Cheshire and one in Wigan have been brought to market as part of a wider portfolio sale by Talash Hotels Group.
The 75-bedroom Mecure Chester North Woodhey House Hotel, 88-bedroom Mercure Wigan Oak Hotel, and 51-bedroom Chimney House Hotel in Cheshire are all part of a £29.5m nine-hotel portfolio sale by the group.
JLL has been appointed by the hotelier as its sole advisor to sell the sites, which overall comprise of 661 bedrooms. They will be offered free from management and are primarily in the Midlands and North West.
Others in the portfolio include the 98-bedroom Mercure Birmingham North Baron’s Court hotel, and the group’s flagship Stoke Rochford Hall Hotel in Lincolnshire which has 97 bedrooms.
Ravi Kathuria, chief executive of Talash Hotels, said: “The Talash Hotel portfolio is a business that has been built up by myself and my brother Sanjay over the last 12 years and it has truly been a privilege to own such great hotels. We have decided to continue to pursue our other business interests. Our hotels give an incoming buyer a value-add opportunity and are ready to be taken to the next platform to realise their full potential.”
Director of JLL Hotels & Hospitality, Gavin Wright, said: “All nine properties provide an incoming purchaser a variety of asset management and significant value-add opportunities. With a value of circa £45,000 per bedroom for the portfolio, we anticipate high levels of interest from a range of domestic and overseas investors.”