The Ramada Hotel on High Street in Loughborough has been sold for £2m to a ‘Midlands-based hotel company’ that has chosen to remain anonymous.
The three-star Ramada Hotel consists of 78 bedrooms, Courtyard restaurant, five conference rooms and a private care park.
The hotel’s new owner wishes to remain unknown, but already owns a small portfolio of similarly-sized hotels and now aims to take the hotel onto the next level of success.
The current operators have been in situ since 2000 and after investing a considerable amount of time and money into the property, including an extensive refurbishment in a bid to establish a great reputation, the hoteliers have decided to sell to concentrate on their other business interests.
Jonathan Wren, director with selling agents Colliers International commented: “The sale of the Ramada Hotel in Loughborough is further evidence of the improving hotel market. With the major banks once again looking to invest into the sector we are anticipating a busy 2016”.