De Vere Group has sold two hotels for £20m in order to raise funds for development.
The hotel group has sold the Royal Bath in Bournemouth, Dorset, and The De Vere Daresbury Park Hotel in Warrington, Cheshire, to Britannia Hotels.
De Vere said the sales followed a strategic review of the business, which identified a number of development opportunities. These include the expansion of the De Vere Village and the De Vere Venues brands and investment in a number of De Vere Hotels.
De Vere is also in discussions about the sale of the Grand Harbour in Southampton and the University Arms in Cambridge.
Annabel.Dixon@estatesgazette.com
