Talash Hotels Group has put its hotel portfolio up for sale, bringing nine hotels to market.
The group, owned by brothers and business partners Sanjay and Ravi Kathuria, has appointed JLL to sell its nine regional hotels with a guide price of offers in excess of £29.5m.
The portfolio comprises a total of 661 bedrooms and all hotels will be offered free from management.
The hotels are primarily located in the Midlands and North West of England and include the Group’s flagship hotel, Stoke Rochford Hall near Grantham, Lincolnshire.
Ravi Kathuria was speaking at yesterday’s Annual Hotel Conference in Manchester.
Four of the hotels are operated subject to the franchise agreements with Accor Hotels under their Mercure brand.
The portfolio includes:
Mercure Birmingham North Baron’s Court Hotel – 98 bedrooms
Mercure Chester North Woodhey House Hotel – 75 bedrooms
Mercure Warwick Honiley Court Hotel – 73 bedrooms
Mercure Wigan Oak Hotel – 88 bedrooms
Stoke Rochford Hall Hotel, Lincolnshire – 97 bedrooms
The Allesley Hotel, Coventry – 90 bedrooms
Chimney House Hotel, Cheshire – 51 bedrooms
Huntley Arms Hotel, Aboyne – 51 bedrooms
Quorn Country Hotel, Leicestershire – 38 bedrooms
The brothers acquired their first hotel in 2007 and are now looking to focus on other business ventures following the sale.
Ravi Kathuria, CEO, Talash Hotels, comments: “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 which have created an incredible journey. 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.”
Gavin Wright, director, JLL Hotels & Hospitality, said: “We are delighted to present to the market Talash Group’s portfolio of hotels. 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.”