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EXCLUSIVE: AB Hotels sells Five Lakes Colchester in off-market deal to further invest in Sopwell House

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AB Hotels, owned and operated by the Bejerano family, has sold Five Lakes hotel in Colchester in an off-market deal to Potters Leisure Limited.

The 194-bedroom hotel will now be transformed into a family resort and mark the second site in the family-owned Potters portfolio.

AB Hotels is headed up by Abraham, Rafi and Alon Bejerano, who said they made the ‘very difficult decision’ to sell the property after being approached by Potters about an acquisition.

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They have owned the hotel since 1994 and ran the property as a Crowne Plaza resort before reclaiming Five Lakes back as an independently business in 2019.

AB Hotels director, Rafi said “Although the hotel was not currently on the market, having been approached by Potters Leisure Limited who presented their fantastic vision to transform the business into a full blown family resort, we took the very difficult decision to allow the hotel to go on to a bigger and brighter future.”

The company also own Sopwell House and Rafi Bejerano told BH that now they will focus on further growth at the St Albans hotel, investing in a new restaurant and refurbishments across the site.

He added: “We will now consolidate and focus our full attention and energy into continuing the successful growth at Sopwell House with further investment in a new restaurant concept and refurbishment as well as significant bedroom renovations following the hugely successful completion of our multi-award winning state-of-the-art spa, Cottonmill.”

The Cottonmill Spa at Sopwell House was recently crowned Boutique Spa of the Year at the Boutique Hotelier Awards 2021. It opened in 2019 after a £14m investment project.

Potters Leisure Limited, which trades as Potters Resorts, acquired Five Lakes for an undisclosed sum and will run the property alongside its first site in Hopton-on-Seat in Norfolk.

Five Lakes also comprises two golf courses, a huge arena space and a spa.

Speaking Eastern Daily Press, John Potter, owner of Potters Resorts, said: “Five Lakes is a sleeping giant that will become another jewel within Potters Resorts.

“Its location is perfect for many of our existing guests and also opens up our unique short breaks offering to a wider London and South-East market.

“I am very grateful to the Bejerano family for entrusting Potters with the future of this fantastic asset they have created in the beautiful Essex countryside.”

Tags : AB HotelsFive LakesRafi BejeranoSopwell House
Zoe Monk

The author Zoe Monk

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