Hotel chain Hanover International has sold the 150-bedroom Sundridge Park hotel, training and conference centre in Bromley, Kent, to property development group Cathedral for £15m.
Hanover bought the property – for the same price that it is now selling it at – four years ago from technology firm PA Consulting as part of a joint venture with Bank of Scotland.
The grade I-listed, John Nash-designed hotel and estate will be managed by Initial Style Conferences, part of the Rentokil Initial Group.
In a separate development, Rentokil, which also operates catering group Initial Catering Services, this weekend appointed a new chief executive, following the departure of James Wilde in July.
The new boss is Doug Flynn, chief executive of advertising space buyer Aegis.
by Nic Paton
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