Thistle hotels in London and Brighton are put up for sale

By Lorraine Heller

- Last updated on GMT

Related tags: London

The Thistle Brighton hotel could be sold for around £30m
The Thistle Brighton hotel could be sold for around £30m
The Thistle hotels in London and Brighton have been put up for sale by owners Curzon Hotels.

The two properties, which are being marketed for sale by CBRE Hotels, will be sold with a management contract held by Guoman Hotel Management.

Both properties are four-star hotels, and will be sold as freehold.

London’s Kingsley by Thistle, located in Bloomebury near Covent Garden, The British Museum and Oxford Street, comprises of 129 bedrooms and has recently undergone a £10m refurbishment.

The Thistle Brighton hotel is located on Brighton seafront close to Brighton Pier, an iconic landmark which has also recently been put up for sale. The Thistle Brighton includes 210 bedrooms as well as nine meeting rooms, a health and leisure club and a swimming pool.

Hotel performance

CBRE said both hotels are “performing well under the current challenging trading conditions and have the potential for future growth”.

The group’s Owen Pritchard said trading information is available on expression of interest, but confirmed that the hotels have been profitable.

Curzon Hotels (Operator) Limited and The Curzon Hotel Properties Limited Partnership, owners of the hotels since 2007, appointed CBRE exclusively to sell both properties.

CBRE said it is seeking offers in the region of £42m for the London property and £30m for the Brighton hotel.

The sale would include a management contract with Guoman, which will run until 2032.

Growth potential

“The Kingsley by Thistle represents a rare opportunity to acquire a freehold central London hotel with excellent growth potential. The hotel has recently been refurbished to a high standard and is well positioned to capitalize on the strong trading performance of the London market,” Pritchard told BigHospitality.

“The Kingsley Brighton is one of the leading hotels in the city and is situated in a prominent seafront location. Trading performance is strong with an opportunity for future growth by increasing market share and benefitting from the strong leisure business in Brighton.”

Related topics: Hotels, Venues

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