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London, 29th January 2015- JLL and Savills have been jointly appointed to sell the Ramada Salford Quays and the Ramada Mailbox in Birmingham.
Comprising 142 bedrooms and 90 rooms respectively including bar, restaurant, conferencing and business facilities, both hotels represent an excellent opportunity for investors to acquire established hotels with attractive repositioning opportunities through rebranding to an international quality four star brand such as Starwood’s Four Points by Sheraton or DoubleTree by Hilton.
The hotels occupy outstanding trading locations in two hotspots in the buoyant UK hotels market. The Ramada Salford Quays enjoys an excellent trading position close to Media City UK, Manchester City Centre and Old Trafford football and cricket grounds. The Ramada Mailbox in Birmingham is located within the landmark mixed-use Mailbox development, which is currently undergoing a modernisation programme in excess of £50 million.
Both hotels are currently operated by Shiva under flexible franchise agreements from Wyndham, representing an exciting opportunity for a wide variety of purchasers to gain representation in these key markets and to invest in and reposition the assets.
Will Duffey, Senior Vice President in JLL’s Hotels & Hospitality team commented: "Both the Greater Manchester and Birmingham hotel markets are performing exceptionally well and are consistently posting strong levels of room rate and occupancy growth. The location of these hotel assets, both with existing market share and exciting prospects for growth will appeal to investors."
Rob Stapleton, Director in Savills’ Hotel Investment team commented: "The flexible operational arrangements existing at both hotels provide potential purchasers with a variety of repositioning and rebranding opportunities to optimise performance and enhance future value. With UK-wide RevPAR forecast to grow by 6.5%+ for 2015, this is an exceptional opportunity for an investor to benefit from not only growth in the underlying fundamentals of the UK market but to also to take advantage of operational improvements by partnering a highly regarded international brand"
Senior Vice President
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