De Vere confirms hotel sales

De Vere confirms hotel sales

De Vere Group is selling two hotels to rival Britannia Hotels for £20 million.

The deal involves the Royal Bath in Bournemouth and the De Vere Daresbury Park in Warrington.

De Vere is negotiating the sale of the Grand Harbour hotels in Southampton and the University Arms, Cambridge following a strategic review completed earlier this year.

This identified a number of development opportunities across the group, including expansion of the De Vere Village and the De Vere Venues brands, as well as capital investment in a number of De Vere Hotels, the company said.

Group chief executive Andrew Coppel said: "We are pleased to have successfully disposed of these two properties.

“The proceeds from our disposal programme will go towards funding a range of exciting development opportunities across the group, building a better De Vere and generating increased value for our stakeholders."


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