Elizabeth Hotels sells first hotel in eight-strong portfolio

  Elizabeth Hotels has sold the North Euston Hotel Fleetwood in Lancashire – the first of a portfolio of eight hotel properties on the market – for just short of £2.95m.   The 53-bedroom hotel also comprises a bar, ballroom and sea views.   It has an annual turnover of £2.1m excluding VAT.   Julian Troup, director at Colliers Robert Barry, which advised Elizabeth Hotels, said: “This is further evidence of the fact that there are now signs of a greater flow of transactional activity taking place.    “There has never been a shortage of active buyers, however now we are seeing signs of the banks being more prepared to lend money on hotel ventures, particularly where a solid trading base is in place.”   annabel.dixon@rbi.co.uk