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News Release

Scotland

JLL appointed to sell Holiday Inn Express City Centre and Holiday Inn Aberdeen West, Scotland


​IHIF, 6 March 2017 - JLL’s Hotels & Hospitality Group has been appointed by joint administrators Thomas Campbell MacLennan and Alexander Iain Fraser of FRP Advisory, to sell the Holiday Inn Express City Centre and Holiday Inn Aberdeen West hotels in Scotland.

Holiday Inn Express City Centre, located on Chapel Street in the heart of Aberdeen, is a 155 bedroom limited service hotel offering a breakfast area and bar, two meeting rooms and 13 parking spaces.

Holiday Inn Aberdeen West is located in the affluent Westhill area, the location of choice for many of Aberdeen’s energy sector companies, and is perfectly situated to access the city centre and Aberdeen airport. The hotel comprises 86 bedrooms, a restaurant and public bar which attracts significant external trade along with a lounge bar, five meeting and events areas (up to 240 person capacity), a well-equipped gym and ample car parking.

Both hotels are available separately or as a package and are subject to existing franchise agreements with IHG.

Neil Milligan, associate, JLL’s Hotels & Hospitality team said: “This is a great opportunity to acquire two branded hotels at the bottom of the trading cycle. As the Aberdeen market recovers with the strengthened oil price, the strategic locations of both assets will allow incoming investors to grow revenue through strategic investment in the assets and capture the pending recovery of the wider macro economy.

“Despite the recession experienced by the energy sector that has impacted on Aberdeen hotels, the city remains a target for investors keen to enter this corporate driven market that has historically achieved some of the strongest RevPAR* growth outside of London.”

*RevPAR = Revenue Per Available Room