More von Essen hotels sold

Seven further hotels which made up part of collapsed group von Essen have been sold for an undisclosed sum.

The hotels are said to have been sold for less than £30 million – more than £10 million short of the £40.5 million guide price, The Times reports this morning.

They include properties which formerly made up the Luxury Family Hotels group – the Ickworth in Suffolk, Moonfleet Manor in Dorset, Woolly Grange in Wiltshire and Fowey Hall in Cornwall.

They have been bought by private equity group Patron Capital and joint venture partner Halcyon Hotels and Resorts, which is run by Nigel Chapman who sold Luxury Family Hotels to von Essen for about £30 million six years ago.

The other three hotels in the deal are the Elms in Worcester, Thornbury Castle in South Gloucestershire and New Park Manor in Hampshire.

Patron, which led a recent rescue of Jarvis Hotels, and Halcyon are understood to be planning to invest at least £10 million in restoring the seven hotels, according to reports.

Chapman runs the Polurrian Bay Hotel in Cornwall via Halcyon.

The latest deal brings the number of von Essen hotels sold to 17 out of a chain of 27.

Ernst & Young joint administrator Angela Swarbrick said: “We are very pleased to announce the sale of these seven hotels.

“The high interest in the von Essen Hotels portfolio is translating into completed transactions and we expect to announce further sales shortly.”

Feature: Diagon Alley

Diagon Alley

Check out Universal Orlando's newest attraction
Read More »

Feature: Seventh Heaven

Seventh Heaven

Find your inner Snow White on Walt Disney World's new ride
Read More »

Feature: Bonjour Remy

Bonjour Remy

Scurry to Paris to get a taste of Disney's new rodent ride
Read More »

Feature: Doing it for the kids

Doing it for the kids

Tailor the whole holiday to tots with smart add-ons
Read More »

Destination: Vietnam and Laos

Vietnam and Laos

Karl Cushing joined six agents on a Travel Indochina fam
Read More »