Dominvs Group sells three UK hotels off guide price of £12m

By Hannah Thompson contact

- Last updated on GMT

Dominvs Group sells three UK hotels off guide price of £12m

Related tags: United kingdom, European union, Hotel

Dominvs Group has sold three branded regional UK hotels to Asian company Fico Corporation for an undisclosed sum off a guide price of £12m.

The Holiday Inn Darlington, Holiday Inn Dumfries and the Mercure Sheffield Parkway were all sold in an off-market deal with joint agents, global investors JLL and property specialists Christie + Co.

The group comprises 229 guest bedrooms, with the Sheffield and Darlington properties sold freehold, and Dumfries as a long leasehold.

The move forms part of Dominvs’ wider strategy to grow their established portfolio and development pipeline, the group said, while Christie + Co suggested the sale was evidence of the continuing appeal of the UK regional hotel market to overseas investors, thanks in part to a fall in the Pound Sterling.

Gavin Wright, director of JLL’s hotels and hospitality group, said: “This is a significant deal post the EU referendum result. All three hotels benefit from being operated by well-known brands and offer stable and steady income.”

Jeremy Jones, head of hotels brokerage at Christie & Co, said: “This portfolio sale follows on from a number of recent high profile sales processes. It is further evidence of the appetite from both domestic and overseas buyers for good quality regional UK hotel assets.”

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