The Birmingham Office of the leading hotel and licensed property specialist Colliers International has sold the Ramada Hotel on High Street in Loughborough for £2 million.
The three-star Ramada Hotel has 78 en-suite bedrooms, alongside public areas including the popular ‘Courtyard’ restaurant, five conference rooms, and a private car park for 65 cars.
The hotel has been acquired by a ‘Midlands-based hotel company’ for £2 million. The new owners, who wish to remain anonymous, have a small portfolio of similarly sized hotels and aim to take the hotel onto the next level of success.
Jonathan Wren, Director with selling agents Colliers International, who advised the vendor in the sale, commented: “The Ramada has been operated since 2000 by experienced hoteliers who, during their period of ownership, invested considerable time and money undertaking a rolling refurbishment of the facilities, and establishing an excellent reputation within the Ramada family of hotels. Living as they did, a considerable distance from Loughborough, the Owners decided to sell to concentrate on their other business interests.
“The sale of the Ramada Hotel in Loughborough is further evidence of the improving hotel market. With the major banks once again looking to invest into the sector we are anticipating a busy 2016”.
The Ramada Hotel enjoys an excellent high street location in the bustling town of Loughborough in central Leicestershire. The town is best known for the presence of its world renowned university which specialises in elite sports and sports science. As a result the town draws visitors from around the globe. As well as a thriving commercial and retail centre, local attractions in the vicinity include the Great Central preserved railway, the Loughborough Carillon and the Loughborough Bell Foundry. Transport communications are excellent, the hotel being just a 10 minute drive from the M1 Motorway and just 20 minutes from East Midlands Airport.