Jones Lang LaSalle : JLL advises on the sale of Holiday Inn Kenilworth - Warwick

WARWICK, 22 March 2017 - JLL's Hotels and Hospitality Group has advised on the sale of the Holiday Inn Kenilworth - Warwick. The 115 bedroom hotel has been purchased by BGAM Hotels for an undisclosed sum off a guide price of £11.25 million.

Situated in Kenilworth town centre and sold by KE Hotels the property benefits from a Marco's New York Italian, by Marco Pierre White, an onsite Starbucks café as well as existing planning permission for a 17 bedroom extension. The purchasers will retain current management and employees.

This is BGAM's first hotel purchase of 2017 and follows their strategy to invest in good quality branded hotel real estate. BGAM were advised by Lee Phillips of Lee Phillips & Partners.

Jonny Levy, BGAM Hotels Director commented: 'This is a strategic purchase within an exciting sector that has significant opportunity for revenue growth. Following this successful purchase the team will continue to focus their efforts in expanding within the hotel sector.'

Gavin Wright, Director, JLL's Hotels & Hospitality Group, added: 'This is an excellent acquisition for BGAM Hotels as The Holiday Inn Kenilworth - Warwick attracts extremely strong corporate and leisure demand from nearby companies including Jaguar Land Rover as well as the popular tourist attractions of Warwick Castle and Stratford upon Avon. The interest received in this hotel is further evidence of the appetite from both domestic and overseas buyers for good quality regional UK hotel assets.

'JLL's Hotels & Hospitality Group have successfully completed on three IHG branded hotel sales over the past three months and with a further four IHG branded assets currently being marketed we anticipated that 2017 will be a buoyant year for regional UK hotel transactions.'