Administrators are selling two Park Inn hotels owned by property investment group WG Mitchell for a combined total of £50m.
The two properties, operated by Rezidor, are located in London's Russell Square and St Helen's in Cheshire and are now on the market following the appointment of Ernst & Young as administrators to 28 of WG Mitchell's 75 subsidiary companies in April.
The 214-bedroom Park Inn Russell Square, formerly known as The Bonnington, was bought by WG Mitchell in 2007 for £70m. It includes 14 conference and meeting rooms and a selection of bars and restaurants.
The Park Inn St Helen's has 84 bedrooms, a health club and is home to the Pyramid Bar and Restaurant.
The freehold interests of both hotels are being sold individually or as a pair, with the whole estate valued at about £50m.
Property agent Christie & Co are brokering the deal.
The Bonnington hotel was originally put up for sale last year in order to free up some cash for WG Mitchell.
Edinburgh's Radisson SAS and London's Bonnington up for sale >>
Kurt Ritter to head Rezidor until 2012 >>
Park Inn Russell Square, London >>
By Gemma Sharkey
E-mail your comments to Gemma Sharkey here.
Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs
| | Newsletters
For the latest hospitality news, sign up for our e-mail newsletters. | | |