The Hotels Agency team at Colliers International has completed the sale of The Ramada Leicester Stage Hotel, in Leicestershire, to successful hotel operators, London Town Hotels as they look to expand their national portfolio.
Founded in 1988, the London Town Group, an established property investment company, owns and operates hotels across London and the UK regions.
The established and successful freehold 79-bedroom Ramada Leicester Stage Hotel features five conference rooms with modern facilities, a 160 cover restaurant and a fully equipped health and fitness club as well as 135 car parking spaces The hotel is situated just three miles from the City Centre and benefits from exceptional links to the motorways, Leicester Train Station and East Midlands Airport.
Paul Barrasford, Director in Colliers International’s Hotels Agency team, commented: “Located just outside the city centre, the hotel is a popular base for those visiting the city and has and has an impressive array of function rooms for corporate and private events.
“The market remains very strong for regional hotels with the profile of active buyers ranging from established groups, like London Town Group, to newer players such as overseas investors and high net worth individuals.”
Koolesh Shah, London Town Group’s Managing Director, stated: “We are delighted to add the hotel to our expanding portfolio. The property is a good strategic fit alongside our other regional hotels. We intend to carry out a multi million-pound refurbishment programme and increase the number of bedrooms to further enhance the appeal of the hotel.”
Simon Lester, Chairman and CEO, Lester Hotels, concluded: “We have greatly enjoyed our ownership of the hotel and would like to thank all the staff for their hard work in establishing such a successful business. We wish London Town Group success on the next exciting chapter of the hotel’s future.”