Hospitality group Cotswolds Inns and Hotels has put The George Hotel in Cheltenham on the market with an asking price of £3.25m, just over two years after its acquisition.
The privately-owned collection of nine hotels and inns in the Cotwolds, has called in Christie + Co to find a new owner for the 31-bedroom Grade-II listed The George Hotel.
The property was acquired by the group in February 2016, when it was up for sale with a guide price of £4m.
The George dates back to 1840 and is made up of five converted townhouses, situated on St George’s Road to the west of Cheltenham town centre.
Matthew Smith, director at Christie & Co’s Bristol office comments: “This is a rare opportunity to purchase an established freehold hotel business in Central Cheltenham, one of the UK’s most desirable towns. The opportunity provides an array of possibilities to maximise gross profit margins by reconfiguring and creating more bedrooms, continue operating as a full service hotel or perhaps an alternative use.”
Once sold, the Cotswolds Inns and Hotels portfolio will consist of eight properties across the region, including The Broadway, The Lamb Inn at Burford and The Close in Tetbury.