CBRE Hotels advise Land Securities on the sale of regional UK portfolio

London, 5 December 2016 – CBRE Hotels, on behalf of Land Securities, has sold a portfolio of four hotels to Fairview Hotels.

The Novotel hotel portfolio comprises a total of 450 bedrooms, with the properties located in Ipswich, Wolverhampton, Manchester and Coventry. This acquisition expands Fairview Hotels existing UK portfolio to nine hotels which includes Novotel, Mercure and Ibis brands. The hotels will operate under the franchise with AccorHotels.

Anu Badola, Director, CBRE Hotels, commented: “This transaction represents a strong opportunity for Fairview Hotels who are currently the largest franchisee of Novotel hotels in the UK and is an excellent fit for their platform. We are seeing an increasing amount of interest from UK based owner operator franchisees who are seeking attractive opportunities in the UK market where there is a strong underlying base of demand and attractive returns relative to the current low interest rate environment.” 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.


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