CBRE advises on the sale of the Hyatt Regency Birmingham

London, 27 September 2016 – CBRE Hotels has acted for Hyatt on the sale of the Hyatt Regency Birmingham.

CBRE Hotels provided due diligence advice to an affiliate of Hyatt Hotels Corporation on the sale of the Hyatt Regency Birmingham to Bin Otaiba Investment Group for £38.6 million.

The hotel, which has recently had £5 million of thoughtful refurbishment, and will receive a further £2.7m investment over the next three years, is located in the city centre of Birmingham and includes 319 guestrooms, a restaurant, a bar, ten meeting and event rooms and an extensive Spa, including a 16 metre indoor swimming pool. 

The hotel is operated under a management contract with a Hyatt affiliate and is directly linked to the International Convention Centre (ICC) and within walking distance from the city’s key attractions such as the Repertory Theatre and the shopping destination of The Mailbox.

Michael Marfurt, CBRE Hotels, said: “This transaction confirms the growing interest from Middle Eastern capital for acquiring hotels and demonstrates the confidence in the strength of the UK regional market and city centre locations in particular.”

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.