Dalata Hotel Group has bought the entire issued share capital of Hotel La Tour (Birmingham) for £31m from Hotel La Tour.
The hotel on Park Street in the centre of the city was built in 2012. It has 174 bedrooms and will be rebranded as a Clayton hotel in the final quarter of this year.
Earnings before tax attributable to the hotel were £1.9m for the year, and Dalata has bought the asset with existing banking facilities.
Dermot Crowley, deputy CEO business development and finance, said: “Hotel La Tour in Birmingham represents an outstanding opportunity to operate a newly built hotel in the centre of one of the largest cities in the UK.
“The acquisition is consistent with our stated strategy of rolling out both our Maldron and Clayton hotel brands across the larger UK cities.”
To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette
