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Britannia Hotels to acquire two De Vere properties
De Vere Group has announced that it has exchanged contracts with Britannia Hotels for the sale of two UK hotels, following the completion of a strategic review earlier this year.
The sale of Bournemouth's Royal Bath and Warrington's De Vere Daresbury Park is for a total of £20m, which will help fund De Vere's expansion of the Village and Venues brands.
A further two hotels - the Grand Harbour, Southampton, and Cambridge's University Arms - are also set to change hands, with De Vere currently negotiating the sale of both properties.
The Royal Bath and the De Vere Daresbury Park both include spas that comprise a number of private treatment rooms offering ESPA therapies, as well as a steamroom and whirlpool.
De Vere Group chief executive Andrew Coppel said: "The proceeds from our disposal programme will go towards funding a range of development opportunities across the group."
Details: www.deveregroup.co.uk
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