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Duff & Phelps

Colliers International has announced the successful sale of the Royal Hotel and the Clifton Hotels

Colliers International has announced the successful sale of the Royal Hotel and the Clifton Hotels in Scarborough to Britannia Hotels acting on behalf of Duff and Phelps joint administrators of ERH (Scarborough) Limited.

The Royal Hotel is a period 3-star, 118 bedroom hotel of character with leisure facilities located at the heart of Scarborough whilst the Clifton is a 2 star 70 bedroom hotel attracting mainly coach business located overlooking the North Bay.

The hotels were marketed quoting an asking price range for the Royal Hotel of £7,500,000 to £8,000,000 whilst for the Clifton Hotel £2,000,000 to £2,250,000

Following a high level of interest several formal offers were submitted with Britannia Hotels selected as the preferred bidder due mainly to their interest in acquiring both hotels together.

Britannia Hotels is the largest privately owned hotel chain in the UK, with 37 hotels across the country.

Julian Troup, Head of UK Hotels Agency at Colliers International commented:

“The sale of the Royal and the Clifton hotels with a combined bed stock of nearly 200 is one of the biggest hotel transactions that has taken place in recent years in the North of England.

This is further evidence that UK hotel sales are continuing to take place and since the beginning of 2010 Colliers International have sold over 250 hotels throughout the UK“

“The purchase of these two hotels takes Britannia Hotels up to a UK hotel trading company with 39 hotels. I am quite convinced that the Royal and the Clifton will compliment Britannia’s existing portfolio and together with their ownership of the Grand Hotel (382 Bedrooms) they now have a stronghold in Scarborough with a hotel to fit all types of trade.”

Belfast